The situation has intensified further for Anheuser-Busch. Anheuser-Busch has revealed plans to sell eight craft beer brands to Tilray Brands, as stated in a Monday announcement from the multinational brewery. This step will substantially reduce Anheuser-Busch’s craft beer collection.
Tilray and Anheuser-Busch have struck an all-cash agreement, transferring ownership of eight well-known brands.
Tilray, a Canadian cannabis firm, is set to acquire Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and Hiball Energy. The agreement, anticipated to conclude in September 2023, involves a sum of $85 million.
Tilray announced that it would ascend by four ranks, positioning itself as the fifth-largest U.S. craft beer enterprise. Ty Gilmore, Tilray’s U.S. beer president, projected an annual tripling in the company’s beer segment, reaching 12 million cases.
Incorporating these brands into its current alcohol portfolio is expected to generate $250 million in revenue, as indicated by the company.
During 2022, its beverage alcohol segment recorded net revenue of $95 million, constituting 15% of its total $627.1 million and a year-over-year surge of 33%. Meanwhile, Tilray faced a net loss of $1.4 million for the year.
Anheuser-Busch executive Andy Thomas released a statement saying, “Tilray Brands reached out to us early this year with interest in purchasing these brands and breweries, and since then, we’ve had many positive conversations that led to today’s announcement.”
Regarding the transaction unveiled on Monday, Thomas assured that the company is dedicated to collaborating with Tilray to ensure a seamless transition for the individuals who diligently deliver these beers and beverages to U.S. consumers every day.
As a consequence of the sell-off, Anheuser-Busch will also divest the employees, breweries, and affiliated brewpubs linked to the sold brands.
WOKE GOES BROKE: Anheuser-Busch Selling Off EIGHT Beer Brands as Bud Light Boycott Crushes Company
Let this be a lesson.
Former owner Billy Busch said his father and grandfather “would have rolled over in their graves.”https://t.co/cToYqbBygO
— Geller Report (@atlasshrugs) August 9, 2023
Anheuser-Busch, recognized for producing beverages like Budweiser, Bud Light, Michelob Ultra, and Stella Artois, has encountered challenges with its Bud Light brand sales following the company’s distribution of personalized beer cans to transgender influencer Dylan Mulvaney to commemorate “365 days of girlhood.”
Following the Dylan Mulvaney debacle, the downfall of Anheuser-Busch and its brands, especially Bud Light and Budweiser, has been evident.
