Tilray to acquire four craft beer brands from Molson Coors
Once thought of as a pioneering cannabis company with operations across medical and recreational cannabis, Tilray has been diversifying and growing its beverage alcohol portfolio with a focus on craft beer and spirits.
With the pending acquisition of these breweries, Tilray’s portfolio will expand across key beer markets adding 30% new beer buying accounts.
And the beer business is expected to grow to 15 million cases annually, cementing Tilray Beverages as the #1 craft brewer in the Pacific Northwest and #1 in Georgia. It will also anchor Tilray’s craft brands in two key beer states, Texas and Michigan.
Big craft beer buys from Molson Coors and AB InBev
A major move was last year's acquisition of eight craft beer brands from AB InBev, which catapulted the company into a strong craft beer position: making it the fifth largest craft brewer in the US in terms of sales value with a 5% share of the market.
It also acquired Truss Beverage Co. the same year: giving it a larger foothold in the Canadian cannabis beverage brands business.
Tilray beer brands is the 16th largest brewer in the US, and sixth largest craft brewer, according to data published by The Brewers Association in April.
The company's beverage alcohol net revenue reached $202m in FY2024.
Irwin D. Simon, Chairman and CEO at Tilray Brands, said the company’s expertise will help it unlock the full potential of the brands and businesses acquired this month from Molson Coors.
$TLRY to acquire four craft beer breweries from Molson Coors Beverage Company!
— Tilray Brands (@tilray) August 13, 2024
This strategic move will solidify Tilray as the #1 craft brewer in the Pacific Northwest and #1 in Georgia, and anchor us in key markets like Texas and Michigan.
Learn more… pic.twitter.com/d1PdBHNAHF
“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,” he said.
"Tilray Brands plans to continue to invest in the future of these craft breweries, accelerating their growth and capturing a wide range of new market opportunities.”
- Hop Valley Brewing Company is a craft brewery based in Eugene, Oregon, founded in 2009. It is known for brews that reflect the flavors and spirit of the Pacific Northwest. Hop Valley includes one brewery and two taprooms. The brand is currently sold in 12 states with core markets including Oregon, Washington, Idaho, Arizona, Northern California, Nevada, Wisconsin and Minnesota and it has c. 43,000 points of distribution.
- Terrapin Beer Company is a craft brewery based in Athens, Georgia. Founded in 2002, Terrapin is committed to brewing unique, flavorful beers that push the boundaries of traditional brewing techniques. Terrapin includes one brewery and one taproom and is currently sold in 13 states with c. 47,000 points of distribution. Core markets for Terrapin include Georgia, Florida, Wisconsin, North Carolina, South Carolina, Tennessee, and Alabama.
- Revolver Brewing is a craft brewery in Granbury, Texas. Established in 2012, its portfolio ranges from the flagship Blood & Honey American Ale to seasonal offerings. Revolver Brewing includes one brewery and one taproom and c. 12,000 points of distribution across Texas, Oklahoma, and Louisiana.
- Atwater Brewery is a craft brewery based in Detroit, Michigan. Founded in 1997, Atwater's flagship brew is Dirty Blonde Ale. Atwater includes one brewery and three taprooms. The brand is sold in c. 10,000 points of distribution across six states including Michigan, Wisconsin, Illinois, Indiana, Ohio, and Kentucky.
The Tilray Beverages portfolio now covers a range of craft beer and spirits and non-alcoholic 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 non-alcoholic cocktails.
Molson Coors, meanwhile, says it is offloading the craft beer brands as part of its strategy to concentrate on its above premium portfolio in beer and beyond beer.
