Anheuser-Busch Sells Eight Craft Brands to Tilray Brands

NEW YORK — Consumer packaged goods (CPG) and cannabis lifestyle company Tilray Brands Inc. entered into a definitive agreement to acquire eight beer and beverage brands from Anheuser-Busch. 

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The deal includes Shock Top, Breckenridge Brewery, Blue Point Brewing Co., 10 Barrel Brewing Co., Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Co. and HiBall Energy, as well as all current employees, four production facilities and eight brewpubs associated with the brands located across the United States. 

"Tilray Brands reached out to us early this year with interest in purchasing these brands and breweries, and since then, we've had many positive conversations that led to today's announcement," said Andy Thomas, president, the High End at Anheuser-Busch. "We are committed to working with Tilray Brands over the coming months to ensure this is a smooth transition for the people who are working every day to get these amazing beers and beverages to consumers across the U.S."

Tilray anticipates the expected sales volume of the acquired brands will elevate the company to the fifth largest craft beer business position in the U.S., up from the ninth, and projects generated craft beer pro forma revenue of $250 million. The company currently has several brewing operations, including SweetWater Brewing Co., Montauk Brewing Co., Alpine Beer Co. and Green Flash Brewing Co., as well as two distilleries — Breckenridge Distillery and World's Best Blended Whisky — and Happy Flower CBD sparkling nonalcoholic cocktails.

"We are excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities," said Irwin D. Simon, Tilroy chairman and CEO. "Tilray is fully committed to invest in and champion the future of the U.S. craft beer industry by fueling new innovation that excites and further accelerates the growth of its consumer base."

The purchase price will be paid in all cash and the transaction is expected to close in 2023 upon satisfaction of customary closing conditions.

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Tilray Brands operates in Canada, the United States, Europe, Australia, and Latin America. A pioneer in cannabis research, cultivation and distribution, the company’s production platform supports more than 20 brands, including comprehensive cannabis offerings, hemp-based foods and craft beverages.

St. Louis-based Anheusher-Busch is the world's largest brewing company and owns multiple well-known brands including Budweiser, Bud Light, Michelob Ultra and Stella Artois.