Tilray Brands is reportedly selling Atwater Brewery, less than two years after purchasing the US business from Molson Coors Beverage Co.
In a LinkedIn post today (8 June), Atwater founder Mark Rieth shared an article from local news outlet Detroit Business announcing his purchase of the Detroit, Michigan brewer as a “homecoming” deal. Replying to follow-up comments on the post, the entrepreneur said: “thx [sic]. Future is bright for craft beer.”
Global Drinks Intel has contacted Tilray and Atwater for confirmation of the deal.
Rieth, who is the owner of Detroit Liquid Ventures, Hard Nose Spirits, Lansing Brewing Co and Velvet Peanut Butter, and the CEO of non-alcoholic brand FÜL Beverage, founded Atwater in 2005. He ran the business for 17 years before selling to Molson Coors in 2020. Tilray then purchased the brewer in September 2024, along with craft-beer brands Hop Valley, Revolver and Terrapin, for a combined US$23.08m.
Atwater produces a range of permanent and seasonal beers, and runs three taprooms in Michigan (below).
In March, Tilray agreed a cut-price deal to acquire Scottish brewer BrewDog in a pre-pack administration transaction for just GBP33m (US$44.5m). A month prior, the Canadian company penned a deal giving it the licence to produce, market, sell and distribute the Carlsberg, Carlsberg Elephant,1664 and Kronenbourg 1664 Blanc beers in the US.
