Tilray Expands U.S. Presence with Acquisition of Four Molson Coors Craft Breweries

LOS ANGELES- Tilray Brands has announced the acquisition of four craft breweries from Molson Coors, marking a significant expansion of its U.S. operations. The financial details of the deal were not disclosed. The acquired breweries include Hop Valley Brewing Co. (Oregon), Terrapin Beer Co. (Georgia), Revolver Brewing (Texas), and Atwater Brewery (Michigan).

Tilray expects to increase its annual beer volumes by 15 million cases with this acquisition, enhancing its market presence in key regions, including Texas and Michigan. The deal is set to close by the end of this month.

Irwin D. Simon, CEO of Tilray Brands, emphasized the strategic nature of this acquisition in reinforcing the company’s leadership in the craft beer market and driving revenue growth. He also noted that Tilray is focused on larger acquisitions that align with its growth strategy, rather than smaller, individual craft brands.

Molson Coors, for its part, stated that the divestment aligns with its goal of focusing on high-growth segments in its U.S. portfolio. The move is part of Molson Coors’ broader strategy to premiumize its product offerings and streamline its operations.