As Anheuser-Busch sheds craft beer brands and Molson Coors exist the cannabis drinks business, Tilray jumps in. A week after Tilray announced that they were buying eight craft brands from Anheuser-Busch, Tilray said they will acquire the remaining 57.5% equity ownership of cannabis-infused drinks maker Truss Beverage from Molson Coors Canada.
Tilray is a pharmaceutical, cannabis and consumer packaged goods company based in New York City and is one of the largest cannabis companies in the world. They are making a big investment in hopes that cannabis will eventually be legalized on a federal level.
The deal to buy the remainder of Truss will make Tilray the leader in cannabis beverages in Canada, with a combined market share of about 36%.
In addition to the recently acquired 10-barrel Brewing, Widmer Brothers, Redhook, Breckenridge Brewery, Blue Point Brewing and the AB in-house craft brand Shock Top, Tilray previously purchased Tilray Brands already owns other craft breweries including Alpine Beer, Green Flash Brewing, Montauk Brewing and SweetWater Brewing.
More on the Truss Beverage acquisition from Molson Coors Canada here.