![]() ![]() Or, maybe it’s your first time drinking beer in Southern California. Tilray shares trade as TLRY on the Nasdaq and Toronto Stock Exchange.It’s your first time visiting Southern California. Montauk was acquired for an undisclosed sum late last year. Tilray then quietly acquired two California craft beer brands in late 2021, Alpine and Green Flash, in a cash-and-stock deal worth $5.1 million. Tilray’s foray into the craft brewing industry started with the company’s purchase of SweetWater for about $300 million. 28, Tilray’s net beverage alcohol revenue – including whiskey – rose 5% over the same period one year earlier, to $20.6 million. marijuana sales last year totaled an estimated $23.9 billon-$30 billion – eclipsing craft beer sales, which totaled $7.9 billion.įor the three-month period ended Feb. cannabis industry now exceeds the nation’s craft beer sector.Īccording to the recently released 2023 MJBiz Factbook, legal U.S. “Independent” means less than 25% of the craft brewery is owned or controlled by a beverage alcohol industry member that is not itself a craft brewer.īased on sales, the U.S. The Brewers Association defines craft brewer as a small and independent brewer with annual production of 6 million barrels of beer or less. and grow our leading portfolio of diverse craft brands that resonate with adult consumers.” Beer for Tilray, said in a news release that his division “… has enormous potential to grow even further as we continue to expand our distribution network into new markets across the U.S. I also think it points to some overlaps in regulated sectors, though I wouldn’t go far in comparing the markets for beverage alcohol and cannabis.” “There’s a reason Tilray is choosing to invest here as opposed to other sectors. “I think it shows that craft brewing is still an attractive investment with strong brands,” he wrote. The report lists the largest 50 craft brewers among the 9,553 operating craft breweries in the U.S.īart Watson, chief economist at the Brewers Association, told MJBizDaily via email he believes it’s the first time any cannabis company has appeared on the list. The group will announce individual production numbers in May. The Brewers Association, a Colorado-based trade group representing American craft brewers, this month released its annual production report for last year’s craft brewing industry. businesses, which consists of five craft beverage alcohol brands and wellness brands,” Simon said. “In the meantime, we are optimizing the value of our existing high-potential U.S. Tilray has said it won’t engage in plant-touching businesses in the U.S. businesses to capture new opportunities, including a broad range of cannabis-infused consumer packaged goods brands. When legalization does occur, he said, Tilray will be able to leverage the distribution and marketing networks of the U.S. beverage alcohol business as an adaptation strategy to cope with the “delay” in U.S. ![]() ![]() In a conference call with analysts earlier this month, CEO Irwin Simon explained that Tilray built a U.S. and Green Flash Brewing and New York-based Montauk Brewing Co. The Ontario- and New York-based firm’s beer division consists of Atlanta-based SweetWater Brewing Co., California-headquartered Alpine Beer Co. Tilray went on a beer-buying spree between 20 in a bid to diversify its business, which had been focused on the cannabis industry. 10 brewer, New York-based Brooklyn Brewery. ![]() 8 craft brewer, Colorado-based CanArchy – a collective that includes Oskar Blues Brewery, Cigar City Brewing and other craft producers – and just ahead of the No. ![]()
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