Consumer
Tilray to Buy Eight Beverage Brands for $85 Million From AB InBev
- Deal positions Tilray as fifth largest craft beer brewer in US
- Brands help longer-term prospects in US weed market: Jefferies
The $85 million all-cash deal will make Tilray the fifth largest craft beer business in the US, up from ninth.
Photographer: Justin Sullivan/Getty Images
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Tilray Brands Inc. shares jumped the most since February 2021 after the cannabis and consumer packaged goods company agreed to buy eight beer and beverage brands from the owner of Budweiser.
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 Anheuser-Busch 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, it added.