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Tilray Brands (TLRY) Further Expands Into Craft Beers With Purchase of BrewDog
Canadian cannabis concern Tilray Brands TLRY -5.34% ▼ is further expanding into craft beers with the acquisition of Scotland’s BrewDog for £33 million (US$44 million).
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The deal gives Tilray BrewDog’s global brand, brewing operations, and 11 brewpubs scattered across the United Kingdom (U.K.). In a news release, Tilray said the BrewDog acquisition will generate about $200 million in annual net revenue and $6 million to $8 million in additional earnings for it.
Tilray added that the deal expands its global beverage platform to $500 million in annual recurring revenue and should help to drive consolidated annual revenue to $1.2 billion. This is not Tilray’s first expansion into beer and craft brewing.
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