The US arm of Anheuser-Busch InBev is to offload a swathe of craft brewers, with eight businesses lined up to transition to Tilray Brands.
Cannabis giant Tilray will become the fifth largest craft brewer in the US once the acquisition completes later this year. Financial details around the purchase were not disclosed.
Poised to join Alpine Beer Co and Green Flash, Montauk and SweetWater Brewing Co’s on Tilray’s books are:
- 10 Barrel Brewing Co in Oregon
- Breckenridge Brewery in Colorado
- Blue Point Brewing Co in Long Island
- Redhook Brewery in Washington
- Square Mile Cider Co in Oregon, and
- Widmer Brothers Brewing, also in Oregon, as well as
- Shock Top Belgian wheat ale brand and
- HiBall Energy seltzer
Group CEO Irwin Simon hailed what he called a “major step forward in our diversification strategy” though flagged that “revenue and cost synergies” will play their parts, going forward.
“Tilray has solidified its leadership position in the craft beer industry, and we fully intend to be that change agent that reinvigorates the sector,” Simon added. “Upon federal cannabis legalisation, we expect to leverage our leadership position, wide distribution network and portfolio of … beverage and wellness brands to include THC-based products and maximise all commercial opportunities.”
Anheuser-Busch’s The High End president, Andy Thomas, said: “Tilray Brands reached out to us early this year with interest in purchasing these brands and breweries. Since then, we’ve had many positive conversations that led to today’s announcement.
“The talented people behind these brands and breweries, along with our significant investments in them over the years, have positioned them for a bright future with Tilray Brands.”
This week’s news comes just over two months after Anheuser-Busch sold Appalachian Mountain Brewery in North Carolina back to its original owners. Constellation Brands made a similar consolidatory craft move, also in May, offloading Florida’s Funky Buddha Brewery.
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