Cannabis Company Tilray Acquires 8 Anheuser-Busch Craft Beer Brands

Bud Light parent company Anheuser-Busch said on Monday that it wasto a Canadian cannabis company that's been inching into the craft beer space for quite some time now.

The deal, valued at $85 million according to securities filings, would give Tilray Brands ownership of Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. Tilray says it expects the all-cash deal to close this year. It would make Tilray the 5th-largest craft beer company in the US, up from its 9th place ranking today, according to analysts from Jefferies. Sales from the new brands are expected to bring in about $180 million annually for the company, according to Jefferies. TD Cowen analysts said that Tilray's beverage brands will bring in $300 million annually.

Tilray's original focus was selling cannabis in Canada. In recent years, however, the company has moved into other lines of business in the US, including CBD products and alcohol. In November, the company bought New York-based craft brewerCannabis plants grow inside the Tilray factory hothouse in Cantanhede, Portugal.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Anheuser-Busch Selling Shock Top, Blue Point to Cannabis Company TilrayAnheuser-Busch, the owner of Bud Light, is selling eight beer and beverage brands to cannabis company Tilray. The exact amount of the deal has not been disclosed.
Source: WSJ - 🏆 98. / 63 Read more »

Global cannabis company acquires Breckenridge Brewery and seven other brands from Anheuser BuschTilray Brands, a major player in the global cannabis sector, is expanding its presence in the craft beer industry by purchasing eight brands from Anheuser Busch-In Bev, which includes Breckenridge Brewery. The acquisition also includes the retention of current employees, breweries, and brewpubs associated with these brands.
Source: denverpost - 🏆 13. / 72 Read more »

Anheuser-Busch to sell 8 beverage brands to cannabis company, report saysAnheuser-Busch, the owner of Bud Light, is reportedly selling eight of its beverage brands to a cannabis company, according to The Wall Street Journal.
Source: wsyx6 - 🏆 444. / 53 Read more »

Bud Light owner Anheuser-Busch to sell eight labels to cannabis companyAnheuser-Busch, the owner of Bud Light and several other beer brands, is selling off eight of its labels to Tilray Brands, a cannabis company based in New York City. The eight labels the company will purchase from Anheuser-Busch include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.
Source: dcexaminer - 🏆 6. / 94 Read more »