Billion-Dollar Cannabis Company Closes Acquisition Of Three US Breweries, What’s Next For Tilray
Tilray Brands, Inc. (NASDAQ:TLRY) (TSX:TLRY) announced on Tuesday that it has completed the previously announced acquisition of craft breweries Hop Valley Brewing Company,Terrapin Beer Co., and Revolver Brewing, from Molson Coors Beverage Company (NYSE:TAP).
Why It Matters
The acquisition bolsters Tilray’s leadership position in the U.S. craft beer market as the 5th largest craft brewer in the country and the top craft brewer in the Pacific Northwest and Georgia. Tilray is based in Canada.
This also strengthens the company’s presence in Texas – the second largest beer consumption state – and expands Tilray’s craft beer portfolio across key beer markets, adding 30% new beer-buying accounts.
“Tilray Brands is crafting a new future for brands in the craft beer …