Tilray buys beverage brands from AB InBev
Image: Blue Point Brewing Company
Tilray Brands has reached an agreement to purchase eight beer and beverage brands from Anheuser-Busch InBev (AB InBev).
Tilray will purchase Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company and HiBall Energy from AB InBev, the company said. The $85 million all-cash deal will make Tilray the fifth largest craft beer business in the US, up from ninth.
“These beer and beverage brands possess the hallmarks of strong consumer loyalty and further diversify Tilray’s growing US beverage alcohol segment,” the company stated.
The portfolio of beverages to be acquired from AB InBev adds to Tilray’s current beverage brands of SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company and Green Flash Brewing Company. Tilray also owns Breckenridge Distillery and Happy Flower CBD sparkling non-alcoholic cocktails.
AB InBev has just reported second quarter net sales of $15.1 billion, up just 2.2% year-over-year. However, the report has been viewed by some as better than expected, as the company recovers from declining Bud Light sales in the US due to consumer backlash about a promotional video featuring transgender influencer, Dylan Mulvaney.
