Tilray Completes Acquisition Of 8 Beer Brands From Bud Light Parent Anheuser-Busch
Portfolio Pulse from Nina Zdinjak
Tilray Brands, Inc. (NASDAQ:TLRY) has completed its acquisition of eight beer and beverage brands from Anheuser-Busch (NYSE:BUD). The U.S. craft beer market is projected to generate approximately $30 billion in revenue in 2023 and grow at a CAGR of approximately 7.2% throughout the year. Tilray is expected to become the 5th largest craft beer business in the U.S. market this year, up from the 9th. Tilray shares were trading 1.26% higher at $2.42 per share during Monday’s pre-market session.
October 02, 2023 | 2:00 pm
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NEUTRAL IMPACT
Anheuser-Busch has sold eight of its beer brands to Tilray. The company's shares had previously been under pressure due to a controversy involving Bud Light.
The sale of eight beer brands to Tilray could potentially free up resources for Anheuser-Busch to focus on its core brands. However, the company's shares had previously been under pressure due to a controversy involving Bud Light, and it's unclear how this sale will impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Tilray's acquisition of eight beer brands from Anheuser-Busch is expected to boost its position in the U.S. craft beer market. The company's shares were trading higher following the announcement.
The acquisition is expected to significantly boost Tilray's position in the U.S. craft beer market, which is projected to generate approximately $30 billion in revenue in 2023. This positive news is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100