BrewDog purchase fuels Tilray’s beverage growth

Tilray Brands has said its £33m acquisition of BrewDog earlier this year is already delivering early wins for the US company.

The cannabis and beverage firm said the deal has strengthened its global drinks platform as BrewDog has become a key part of its expansion strategy. Tilray added that it had “stabilised” the BrewDog business and improved performance and positioned it for profitability.

The update came as Tilray Brands reported record annual revenues of $915m (£689m), up 11%, with the company expecting to hit £1b turnover in 2027. Beverage revenue in the fourth quarter rose 61% to $105m (£79m), with gross profit hitting $40m (£31m).

The BrewDog acquisition took its global beverage platform to roughly $500m (£375m) pro forma, nearly double the size of the cannabis business Tilray was built on.

BrewDog was sold to US cannabis and drinks firm Tilray Brands in March. BrewDog immediately shuttered 38 pubs and laid off 484 staff, with Tilray taking on BrewDog’s UK brewing operations, brand portfolio and 11 pubs across the UK and Ireland.

Irwin D Simon, chairman and chief executive of Tilray Brands, said: “In beverages, BrewDog, our American craft beer portfolio and our Carlsberg partnership create a global platform with significant opportunities for growth. Across every part of Tilray Brands, we remain focused on disciplined execution, stronger profitability, cash flow generation and creating long-term shareholder value.

“The next chapter for Tilray will not be defined by one product, one market or one regulatory event. It will be defined by disciplined execution across a diversified global platform built to create enduring shareholder value. We believe the opportunity ahead for Tilray Brands is greater than ever before.”

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