Post by
Keeler on Feb 23, 2024 9:30pm
Tilray Brands - is it just a matter of time
before we see more of this sort of press release????
oo - I'm excited!!
Tilray Brands Announces Agreement to Acquire Seven German Beer & Beverage Brands Fueling Tilray’s Future in the German Craft Beer Industry February 23, 2024 at 4:05 PM EDT
NEW YORK, Feb, 23, 2024 (GLOBAL NEWS WIRE) -- Tilray Brands, (Nasdaq | TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that the Company has entered into a definitive agreement to acquire seven beer and beverage brands located in Germany.
Upon satisfaction of customary closing conditions, Tilray will acquire Memminger Brauerei, Dinkelacker, Pfungstadter Brauerei, Tinkel Auften, Vereinsbrauerei, Spaten It Outen and Kamelabfalle. The transaction includes current employees, breweries and brewpubs associated with these brands. The purchase price will be paid in Tilray shares and the transaction is expected to close in March 2024.
Irwin D. Simon, Chairman and CEO, Tilray Brands, said, “Today’s announcement both solidifies our international leadership position and share in the German brewing market and marks a major step forward in our diversification strategy.
We are excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities.
Mr. Simon continued, “Leveraging the deep CPG expertise of Tilray’s leadership team and acquisition integration track record, we intend to drive both revenue and cost synergies, while significantly expanding international distribution to coveted markets across Germany and Europe. Upon full federal cannabis legalization in Germany, we expect to leverage our leadership position, wide distribution network and portfolio of beloved beverage and wellness brands to include THC-based products and maximize all commercial opportunities.”
Memminger Brauerei
Vereinsbrauerei Greiz,
Pfungstdter Brauerei
Comment by
slottygoddy on Feb 23, 2024 9:49pm
As I put on the board today, there would be more dilution.