Tilray Brands Expands into Alcoholic and Cannabis Beverages with Major Acquisitions

NEW YORK– In a strategic move to diversify its portfolio, Tilray Brands, one of the world’s largest cannabis companies, is broadening its reach into the alcoholic and cannabis beverage sectors. The company has recently announced acquisitions from major beverage giants Molson Coors and Anheuser-Busch.

On Friday, Tilray revealed its plans to acquire the remaining 57.5% equity ownership of Truss Beverage, a cannabis-infused drinks manufacturer, from Molson Coors Canada. While the financial details of the transaction remain undisclosed, this acquisition underscores Tilray’s commitment to expanding beyond traditional cannabis products.

Earlier this month, Tilray also announced its $85 million acquisition of eight beer and beverage brands from Anheuser-Busch. This move is the latest in a series of craft beer purchases, positioning Tilray as a dominant player in the U.S. craft beer market. With these acquisitions, Tilray has ascended to become the fifth-largest craft beer company in the U.S.

With a market capitalization of $1.79 billion, Tilray not only specializes in cannabis but also in beverage and wellness products. The acquisition of Truss Beverage is a testament to the company’s ongoing “diversification strategy.” As the North American cannabis market experiences a slowdown, companies like Tilray are pivoting to expand their product range.

Cannabis-infused beverages and craft beer are emerging as rapidly growing sectors, attracting the attention of cannabis industry leaders. With the Truss acquisition, Tilray claims a leadership position in the adult-use cannabis beverage market in Canada, boasting a combined market share of approximately 36%.

In a press release, Tilray emphasized the potential of cannabis beverages to attract legal-aged consumers who are yet to delve into the world of cannabis. The company also anticipates that forthcoming “regulatory shifts” will further drive growth in this sector.

Blair MacNeil, President of Tilray Canada, expressed optimism about the acquisition, stating it will “further diversify our product offerings while broadening our consumer reach.”

As legal restrictions continue to challenge the cannabis industry, Tilray’s strategic acquisitions signal a proactive approach to navigating market challenges and capitalizing on emerging opportunities.