Tilray Brands Acquires UK-Based Craft Brewery BrewDog

U.S.-based cannabis company Tilray Brands on Monday announced the
acquisition of BrewDog, a British craft beer maker, for £33 million
(~USD$44.3 million). The deal includes the global brand and related
intellectual property, the United Kingdom brewing operations, and 11
strategic brewpubs in the U.K. and Ireland.

In a press release, Tilray said the acquisition is expected to generate
about $200 million in annual net revenue and between $6 million to $8
million of adjusted EBITDA in fiscal 2027.

According to a Guardian report, another 38 bars not included in the sale
will close immediately, along with the shedding of 484 jobs. A total of 733
jobs will be preserved through the takeover, the report says. Tilray told
the Guardian it is negotiating separately to purchase BrewDog assets in the
U.S. and Australia. AlixPartners, which acted as the administrator for
BrewDog, told the Guardian that “No offer was made at any stage of the
sales process, from any prospective bidder, which would have preserved
BrewDog in its entirety.”

In a statement, Irwin D. Simon, chairman and CEO of Tilray, said the firm’s
“total global beverage platform is expected to grow to about $500 million
in annual revenue” and create “one of the largest diversified craft
beverage platforms globally.”

“Through this expanded platform, we see significant growth opportunity for
BrewDog through broader distribution and the ability to invest back into
brand and innovation, while introducing Tilray’s complementary beverage
brands into international markets,” Simon said in a press release. “On a
combined basis, we expect Tilray’s diversified global business to reach
(about) $1.2 billion in annualized revenue.”