Andrew Powell
Contributor
August 07, 2023 11:18 PM ET
The collapse has just ratcheted up.
Anheuser-Busch InBev (AB-InBev) will be selling eight craft beer brands to Tilray Brands, according to a Monday announcement from the anti-American beer giant. The move will cut AB-InBev’s craft beer portfolio significantly.
Tilray, a Canadian cannabis company, will be purchasing 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 deal is expected to be finalized in Sept. 2023 for $85 million, according to a Tilray 8-K filing.
In addition to the beer brands, Anheuser-Busch will also be selling off the brands’ employees, breweries and associated brewpubs.
In other words, the disaster just got even more disastrous for Bud Light’s umbrella company.
https://twitter.com/tilray/status/1688643551066820608more
https://dailycaller.com/2023/08/07/anheuser-busch-beer-brands-bud-light-dylan-mulvaney-cananbis-tilray/
