Canadian Weed Giant Wraps Up Acquisition Of Molson Coors-Backed Cannabis Beverage Producer
Portfolio Pulse from Jelena Martinovic
Tilray Brands, Inc. (NASDAQ:TLRY) has acquired the remaining 57.5% equity ownership of Truss Beverage Co. from Molson Coors Canada (NYSE:TAP). Truss Beverage is a joint venture between Molson Coors and HEXO Corp affiliates, which Tilray acquired in June. The acquisition is expected to boost Tilray's competitive positioning and expand its portfolio of cannabis beverage brands.
August 18, 2023 | 3:34 pm
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POSITIVE IMPACT
Tilray's acquisition of Truss Beverage Co. is expected to strengthen its market position and expand its portfolio of cannabis beverage brands.
The acquisition of Truss Beverage Co. is a strategic move for Tilray as it expands its portfolio and strengthens its market position. This could potentially lead to increased revenues and profitability, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Molson Coors Canada has sold its remaining 57.5% equity ownership of Truss Beverage Co. to Tilray.
The sale of its equity ownership in Truss Beverage Co. could potentially lead to a short-term decrease in revenues for Molson Coors Canada, which could negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80