USA – Chicago-based beverage giant, Molson Coors has entered into definitive agreement to divest its four US craft breweries Tilray Brands.
Tilray will use the acquisition to expand its portfolio across key beer markets and boost production to over 15 million cases annually.
Irwin D Simon, chairman and CEO of Tilray Brands, said: “Our team’s expertise in operational excellence will enable us to unlock the full potential of these brands and businesses.”
“We are confident in our ability to drive revenue, generate cost synergies, and expand national distribution reinforcing our leadership position in craft beer resulting in tremendous growth opportunities for our global beverage business.”
The company’s beverages portfolio includes a range of craft beer, spirits and non-alcoholic beverage brands, including SweetWater Brewing Company, Square Mile Cider Company, Beckenbridge Distillery, HiBall Energy, Happy Flower CBD and many more.
The deal includes Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing and Atwater Brewery.
Hop Valley Brewing Company is based in Eugene, Oregon. Founded in 2009, it is known for crafting beers that reflect the flavours of the Pacific Northwest.
It includes one brewery and two taprooms, and is currently sold in 12 states with core markets including Oregon, Washington, Idaho, Arizona, Northern California, Nevada, Wisconsin and Minnesota.
Terrapin Beer Company is based in Athens, Georgia. It was established in 2002 with an aim of brewing unique and flavourful beers that ‘push the boundaries of traditional brewing techniques’.
It includes one brewery and one taproom and is currently sold in 13 states with 47,000 points of distribution. Core markets include Georgia, Florida, Wisconsin, North Carolina, South Carolina, Tennessee and Alabama.
Revolver Brewing, founded in 2012 and based in Granbury, Texas, produces handcrafted beers using traditional brewing techniques.
Its offerings include its flagship Blood & Honey and American Ale. It includes one brewery and one taproom, with 12,000 distribution points across Texas, Oklahoma and Louisiana.
Atwater Brewery is a craft brewery based in Detroit, Michigan, and founded in 1997. Its portfolio includes Dirty Blonde Ale and a range of seasonal offerings.
Atwater includes one brewery and three taprooms, and is sold in 10,000 points of distribution across six states including Michigan, Wisconsin, Illinois, Indiana, Ohio and Kentucky.
Molson Coors’ chief commercial officer, Michelle St Jacques, highlighted that divestment will help the company to focus more resources behind the initiatives it believes will best help the business attain meaningfully growth in US above premium portfolio in beer and beyond beer.
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