Tilray Brands Is Partnering With Another U.S. Cannabis Company
Partnerships, strategic alliances, mergers, and acquisitions. If you're looking to invest in Tilray Brands (NASDAQ: TLRY), these are the terms you should get accustomed to hearing frequently as the company focuses on growing its presence across the globe.
In an effort to hit $4 billion in annual sales by fiscal 2024, Tilray is looking for ways to quickly expand its top line via partnerships and acquisitions since it isn't likely to reach that target by just growing organically. The company has already partnered with multiple cannabis businesses, and this month, added another to the list: Charlotte's Web (OTC: CWBHF).
Charlotte's Web currently sells products in Canada, but they aren't easily accessible. Customers need special medical exemptions through Health Canada. Under a strategic alliance with Tilray, however, all of the company's CBD products will now be available through Tilray's distribution network, which will make it easier for consumers to access them.
Source Fool.com
