{"id":13569,"date":"2023-08-22T05:05:18","date_gmt":"2023-08-22T05:05:18","guid":{"rendered":"https:\/\/isafespend.com\/news\/tilray-is-buying-beverage-brands-from-molson-coors-anheuser-busch-as-cannabis-industry-struggles\/"},"modified":"2023-08-22T05:05:19","modified_gmt":"2023-08-22T05:05:19","slug":"tilray-is-buying-beverage-brands-from-molson-coors-anheuser-busch-as-cannabis-industry-struggles","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=13569","title":{"rendered":"Tilray is buying beverage brands from Molson Coors, Anheuser-Busch as cannabis industry struggles"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Tilray Brands<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> is expanding its footprint in alcoholic and cannabis beverages, buying up brands from <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Molson Coors<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">Anheuser-Busch<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> as legal restrictions hamper the marijuana industry.<\/p>\n<p>The major cannabis company announced Friday it will acquire the remaining 57.5% equity ownership of\u00a0cannabis-infused drinks maker Truss Beverage from Molson Coors Canada. The transaction price was not disclosed.<\/p>\n<p>The move comes amid a broader push by Tilray to branch out from more traditional cannabis products. Tilray announced earlier this month that it would acquire eight beer and beverage brands from Anheuser-Busch\u00a0for $85 million. It was the latest in a string of craft beer acquisitions that has made Tilray one of the biggest forces in the space in the U.S.<\/p>\n<p>Tilray is one of the largest cannabis companies in the world with a market cap of $1.79 billion. The company also specializes in beverage and wellness products, and has become the fifth largest craft beer company in the U.S.<\/p>\n<p>The Truss acquisition is a part of a larger &#8220;diversification strategy&#8221; underway at Tilray. As growth in the North American cannabis industry stalls, weed-focused companies aim to expand their portfolios.<\/p>\n<p>THC beverages and craft beer are among the fast-growing beverage sectors that have caught the interest of cannabis executives.<\/p>\n<p>Tilray said the deal to buy the remainder of Truss makes it the leader in adult-use cannabis beverages in Canada, with a combined market share of about 36%.<\/p>\n<p>The company said in a news release that cannabis beverages &#8220;present a significant opportunity&#8221; to reach legal-aged consumers who haven&#8217;t explored cannabis yet. It also expects &#8220;regulatory shifts&#8221; to fuel substantial growth for the market.<\/p>\n<p>Blair MacNeil, the president of Tilray Canada, said the acquisition will &#8220;further diversify our product offerings while broadening our consumer reach.&#8221;<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107283383\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107283383\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000311113\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"><\/span><span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>It hopes to achieve a similar effect by snapping up beer brands from Anheuser-Busch. Included in the deal announced earlier this month are the brands Shock Top,\u00a0Breckenridge Brewery,\u00a0Blue Point Brewing Company, 10\u00a0Barrel Brewing Company,\u00a0Redhook Brewery, Widmer Brothers Brewing,\u00a0Square Mile Cider Co., and HiBall Energy.<\/p>\n<p>The transaction includes all of the brands&#8217; current employees, breweries, and associated brewpubs. The deal is expected to triple the size of Tilray&#8217;s beer business, increasing its output from 4 million to 12 million cases a year.\u00a0<\/p>\n<p>Tilray Brands already owns other craft breweries including\u00a0Alpine Beer, Green Flash Brewing,\u00a0Montauk Brewing and\u00a0SweetWater Brewing.<\/p>\n<p>Even as it diversifies, Tilray aims to become a leader in the U.S. adult-use cannabis market if it gets legalized on the federal level. The lack of reform nationwide and the patchwork of state rules have hampered growth in the U.S.<\/p>\n<p>&#8220;Upon federal cannabis legalization,&#8221; said CEO Irwin D. Simon in a statement announcing the Anheuser-Busch deal, &#8220;we expect to leverage our leadership position, wide distribution network and portfolio of beloved beverage and wellness brands to include THC-based products and maximize all commercial opportunities.&#8221;<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/08\/21\/tilray-cannabis-buys-brands-from-molson-coors-anheuser-busch.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tilray Brands is expanding its footprint in alcoholic and cannabis beverages, buying up brands from Molson Coors and Anheuser-Busch as legal restrictions hamper the marijuana industry. The major cannabis company announced Friday it will acquire the remaining 57.5% equity ownership of\u00a0cannabis-infused drinks maker Truss Beverage from Molson Coors Canada. The transaction price was not disclosed.<\/p>\n","protected":false},"author":1,"featured_media":13570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-13569","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tilray is buying beverage brands from Molson Coors, Anheuser-Busch as cannabis industry struggles | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Tilray Brands is expanding its footprint in alcoholic and cannabis beverages, buying up brands from Molson Coors and Anheuser-Busch as legal restrictions\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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