Tilray Brands Acquires Breckenridge Brewery in $85 Million Deal

Tilray Brands, a leading global cannabis company, has acquired Breckenridge Brewery, a popular craft brewery in Colorado. The deal, which is valued at $85 million, is expected to close later this year.

Breckenridge Brewery was founded in 1990 and is one of the most successful craft breweries in the United States. It has a wide range of popular beers, including Avalanche Amber Ale, Vanilla Porter, and Snow Day IPA. The brewery also has a strong presence in Colorado, with a taproom in Breckenridge and a distribution network that reaches all corners of the state.  The brewery has won numerous awards for its beers, including the World Beer Cup and the Great American Beer Festival.

Tilray Brands is already a major player in the cannabis industry. The company has a market capitalization of over $3 billion, is one of the largest cannabis companies by revenue and employs over 3,000 people. Tilray Brands is listed on the Nasdaq Stock Exchange under the ticker symbol “TLRY.”  It has operations in Canada, the United States, and Europe.  In December 2021, Tilray acquired SweetWater Brewing Company, another popular craft brewery. The company has also made investments in a number of other cannabis-related businesses, including cannabis cultivation, extraction, and retail.  Tilray Brands was founded in 2018 through the merger of Tilray and Aphria. The company is headquartered in Nanaimo, British Columbia, Canada.

The acquisition of Breckenridge Brewery is a significant move by Tilray as it seeks to become a leader in the cannabis beverage market. The company is betting that cannabis-infused beverages will be a major growth area in the years to come, and Breckenridge Brewery could be an asset in this market.

The deal is also a sign of the growing convergence between the cannabis and alcohol industries. In recent years, there has been a growing interest in cannabis-infused beverages. The global cannabis market is expected to reach $100 billion by 2025. Tilray Brands is well-positioned to capitalize on this growth, as it has a strong portfolio of cannabis products and a growing global reach.

In addition to the strategic benefits, the acquisition of Breckenridge Brewery is also a positive development for the Colorado craft beer industry. Breckenridge Brewery is a beloved brand in Colorado, and its sale to Tilray Brands is a vote of confidence in the state’s craft beer scene.

It will be interesting to see how Tilray Brands integrates Breckenridge Brewery into its operations. The company has a strong track record of success in the cannabis industry, and it will be interesting to see how it applies its expertise to the craft beer market.

Tilray Brands CEO Irwin Simon said that the acquisition of Breckenridge Brewery is “a significant milestone in our journey to become the leading global cannabis-lifestyle brand.” He added that the deal will “strengthen our position in the craft beer market and create new opportunities to develop innovative cannabis-infused beverages.”

Tilray Brands is committed to promoting responsible use of cannabis. The company has a number of programs in place to educate consumers about the risks and benefits of cannabis. Tilray Brands also supports research into the medical uses of cannabis.

In addition to the financial terms of the deal, Tilray has also agreed to retain Breckenridge Brewery’s current management team. This is a positive sign for the brewery’s employees and customers, as it suggests that Tilray is committed to maintaining the brewery’s culture and values.

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