Tilray Brands To Acquire Four Craft Beer Breweries From Molson Coors Beverage Company; Tilray's Beverage Division Projected To Grow New Beer Accounts By 30%; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Tilray Brands, Inc. (NASDAQ:TLRY) has announced a definitive agreement to acquire four craft breweries from Molson Coors Beverage Company (NYSE:TAP). This strategic acquisition is expected to strengthen Tilray's craft beer leadership in the U.S. and solidify its position as the #1 craft brewer in the Pacific Northwest and Georgia. The acquisition is projected to grow Tilray's beverage division's new beer accounts by 30%. Financial terms of the deal were not disclosed.
August 13, 2024 | 6:16 pm
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NEUTRAL IMPACT
Molson Coors Beverage Company is selling four craft breweries to Tilray Brands, which may impact its craft beer market share in the U.S.
While the sale of the breweries may reduce Molson Coors' presence in the U.S. craft beer market, the financial terms were not disclosed, making it difficult to assess the immediate impact on the company's stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Tilray Brands, Inc. is acquiring four craft breweries from Molson Coors, which is expected to strengthen its craft beer leadership in the U.S. and project a 30% growth in new beer accounts.
The acquisition will significantly enhance Tilray's market position in the U.S. craft beer industry, likely leading to increased revenues and market share. The projected 30% growth in new beer accounts indicates a positive short-term impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100