TLRY - Tilray Completes Acquisition Of 8 Beer Brands From Bud Light Parent Anheuser-Busch | Benzinga
Cannabis company Tilray Brands, Inc. (NASDAQ: TLRY) closed its all-cash previously-announced acquisition of eight beer and beverage brands from Anheuser-Busch (NYSE: BUD), including the breweries and brewpubs associated with them. The acquired businesses include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company and HiBall Energy.
The U.S. craft beer market is projected to generate approximately $30 billion in revenue in 2023 and grow at a CAGR of approximately 7.2% throughout the year. Combined with the pro forma sales revenue from the acquired businesses, Tilray Brands is expected to become the 5th largest craft beer business in the U.S. market this year, up from the 9th, with its ...