Tilray Expands Brewery Ventures, Seals Anheuser-Busch Deal
Cannabis company Tilray has completed its acquisition of eight beer brands from Anheuser-Busch, expanding its presence in the craft brew industry. The deal includes well-known labels such as Shock Top, Breckenridge Brewery, and Blue Point Brewing Company. The financial details of the acquisition were not disclosed, but Tilray expects its beer sales volume to triple from four million cases to 12 million. This acquisition provides Tilray with additional manufacturing capacity and innovation capabilities for commercial expansion opportunities. Shares of Tilray fell over 3% following the announcement.