Tilray Brands Completes Acquisition of Craft Beer Brands and Breweries from Molson Coors Beverage Company
September 03 2024 - 10:33AM
Tilray Brands, Inc. (“Tilray”, “our”, “we” or the “Company”)
(Nasdaq: TLRY; TSX: TLRY), a global lifestyle and consumer packaged
goods company, has successfully completed the previously announced
acquisition of craft breweries Hop Valley Brewing Company, Terrapin
Beer Co., and Revolver Brewing, from Molson Coors Beverage Company
(“Molson Coors”) (NYSE: TAP).
Irwin D. Simon, Chairman and Chief Executive Officer of Tilray
Brands, said, "Tilray Brands is crafting a new future for brands in
the craft beer industry. We are proud to welcome these exceptional
brands and the talented teams behind them to Tilray. With our
proven track record of creating brand growth, we are confident in
our ability to drive revenue, generate cost synergies, and expand
distribution, further strengthening these brands and solidifying
Tilray's position as a leader in the craft beverage industry. This
strategic acquisition creates additional growth opportunities for
our global beverage business, which reinforces our commitment to
enhancing shareholder value. At Tilray Brands, we are constantly
pushing the boundaries to bring new and better experiences to our
consumers. Our plan is to drive growth and maximize the potential
of these brands to their fullest capacity, while maintaining our
dedication to delivering high-quality products and meeting the
evolving needs of our consumers.”
This acquisition further strengthens Tilray's leadership
position in the U.S. craft beer market as the 5th largest craft
brewer in the country and the top craft brewer in the Pacific
Northwest and Georgia. It also anchors Tilray in Texas, the second
largest beer consumption state, and expands Tilray’s craft beer
portfolio across key beer markets, adding 30% new beer buying
accounts. Tilray Brands’ impressive beverage portfolio now includes
some of the leading craft beer, spirits, and non-alcohol beverage
brands such as 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, Happy
Flower CBD, along with Canada's top recreational cannabis and THC
beverage brands, Mollo and XMG.
AdvisorsTD Securities acted as
financial advisor, and DLA Piper LLP (US) acted as external legal
counsel to Tilray Brands.
About Tilray BrandsTilray
Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a leading
global lifestyle and consumer packaged goods company with
operations in Canada, the United States, Europe, Australia, and
Latin America that is leading as a transformative force at the
nexus of cannabis, beverage, wellness, and entertainment, elevating
lives through moments of connection. Tilray’s mission is to be a
leading premium lifestyle company with a house of brands and
innovative products that inspire joy, wellness and create memorable
experiences. Tilray’s unprecedented platform supports over 40
brands in over 20 countries, including comprehensive cannabis
offerings, hemp-based foods, and craft beverages.
For more information on how we are elevating lives through
moments of connection, visit Tilray.com and follow @Tilray on all
social platforms.
Cautionary Statement Concerning Forward-Looking
StatementsCertain statements in this communication that
are not historical facts constitute forward-looking information or
forward-looking statements (together, “forward-looking statements”)
under U.S. and Canadian securities laws and within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, that are
intended to be subject to the “safe harbor” created by those
sections and other applicable laws. Forward-looking statements can
be identified by words such as “forecast,” “future,” “should,”
“could,” “enable,” “potential,” “contemplate,” “believe,”
“anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,”
“project,” “will,” “would” and the negative of these terms or
similar expressions, although not all forward-looking statements
contain these identifying words. Certain material factors,
estimates, goals, projections, or assumptions were used in drawing
the conclusions contained in the forward-looking statements
throughout this communication. Forward-looking statements include
statements regarding our intentions, beliefs, projections, outlook,
analyses or current expectations concerning, among other things:
the timing and certainty of closing the acquisition; expected
sales, distribution and market share growth, revenue generation,
synergies and accretion related to the acquisition; Tilray’s
ability to expand upon distribution and sales of alcohol products
in the U.S.; Tilray’s ability to enhance the value of its brand
portfolio; and Tilray’s anticipated investments in particular
businesses, including craft beer. Many factors could cause actual
results, performance, or achievement to be materially different
from any forward-looking statements, and other risks and
uncertainties not presently known to Tilray or that Tilray deems
immaterial could also cause actual results or events to differ
materially from those expressed in the forward-looking statements
contained herein. For a more detailed discussion of these risks and
other factors, see the most recently filed Annual Report on Form
10-K (and other periodic reports filed with the SEC) of Tilray made
with the SEC and available on EDGAR and in Tilray’s Canadian
securities filings. The forward-looking statements included in this
communication are made as of the date of this communication, and,
while Tilray believes that information provides a reasonable basis
for these statements, these statements are inherently uncertain,
and investors are cautioned not to unduly rely on these statements.
You should not rely upon forward-looking statements or
forward-looking information as predictions of future events and
Tilray does not undertake any obligation to publicly update such
forward-looking statements to reflect new information, subsequent
events or otherwise unless required by applicable securities
laws.
Media: news@tilray.com
Investors: investors@tilray.com
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