Tilray Brands Is Buying More Beer Brands, and Its Wheeling and Dealing Isn't Over
Tilray Brands (NASDAQ: TLRY) is no stranger to acquisitions. That has been a key part of its growth strategy and a way for it to expand its operations over the years. That has allowed it to grow its sales without having to rely on competing in a saturated Canadian cannabis market where margins are low and profitability is difficult to achieve. At the same time, rather than waiting for the U.S. to legalize marijuana, it has broadened its business into other segments, such as alcohol.
Recently, the company announced it was acquiring more beverage brands to bolster that area of its operations. It's a big move for the company, but investors shouldn't be surprised if there are more acquisitions to come.
On Aug. 13, Tilray announced that it was acquiring four craft breweries from Molson Coors: Hops Valley, Terrapin Beer, Revolver Brewing, and Atwater Brewery. These brands are based all across the U.S., including Oregon, Georgia, Texas, and Michigan. This complements Tilray's already formidable number of beverage brands, including SweetWater Brewing, Montauk Brewing, and many others.
Source Fool.com
