Tilray Brands to Acquire Four Craft Beer Breweries from Molson Coors Beverage Company

Tilray’s Strategic Acquisition Will Strengthen its Craft Beer Leadership in the U.S. and Solidify Tilray Beverages as the #1 Craft Brewer in the Pacific Northwest and #1 in Georgia; Anchors Tilray in Key Markets, Texas and Michigan

Tilray’s Beverage Division Projected to Grow New Beer Accounts by 30%

NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. (“Tilray”, “our”, “we” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a global lifestyle consumer packaged goods company elevating lives through moments of connection, today announced that the Company has entered into a definitive agreement to acquire four craft breweries from Molson Coors Beverage Company (“Molson Coors”) (NYSE: TAP). The acquisition includes Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing, and Atwater Brewery.

Tilray's beverage business is poised for even greater success with the latest addition of sought-after craft beer brands, known for their unique portfolio of beers. With the pending acquisition of these breweries, Tilray’s portfolio will expand across key beer markets adding 30% new beer buying accounts. The Tilray Beverages portfolio boasts a range of leading craft beer, spirits and non-alcohol beverages including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy, and Happy Flower CBD sparkling cocktails. This strategic acquisition is expected to position Tilray for continued growth and expansion in the beverage industry.

Irwin D. Simon, Chairman and Chief Executive Officer, Tilray Brands, said, “Tilray Brands is proud to be driving the most compelling and unique growth story in the craft beer industry. With the acquisition of these four craft breweries from Molson Coors, we are marking another strategic milestone in Tilray Brands’ growth plan. Our team’s expertise in operational excellence will enable us to unlock the full potential of these brands and businesses. We are confident in our ability to drive revenue, generate cost synergies, and expand national distribution reinforcing our leadership position in craft beer resulting in tremendous growth opportunities for our global beverage business.”