RE:RE:New Press Release - Tilray Brands Completes Acquisition of Truss Beverage Co.DaveInCalgary wrote: I actually thought Tilray had 100% of Truss revenue, since back in August. Obviously that extra revenue will only start today.
Tilray boosts its market share with Truss’ to 40%, since they bought the remaining 57.5% stake.
Headset sales of Cannabis infused Beverages to Jan 16, 2024, holidays
Includes Riff https://www.headset.io/markets/saskatchewan complete beverage sweep Truss sweep in Alberta https://www.headset.io/markets/alberta "Truss’ ~40% of the C$100M market (At Retail) = C$40M
The last 57.5% equates to C$23M, or $17.1M USD"
(MDeCicco assumption without RIFF included)
From TheDeepDive: Tilray Closes Purchase Of Molson Coors’ Interest In Truss Beverage
January 24, 2024 8:14 AM Jay Lutz Tilray Brands (TSX: TLRY) has finally closed on its acquisition of Truss Beverage Co. The company has bought out joint venture partner Molson Coors (NYSE: TAP) from the operation, in a transaction that was initially announced back in August 2023.
The figures behind the transaction as of yet are undisclosed. Recent filings made by Molson Coors indicate that they recorded a loss of US$11.1 million on the sale, however the sales figure was not provided, with the company indicating it was an “immaterial amount.”
Source: Molson Coors Q3 Results Tilray however has acquired the 57.5% interest previously held by Molson in full, with remaining contractual obligations said to now be satisfied. As part of the purchase, all cannabis beverage operations have been transitioned to Tilray’s London, Canada manufacturing facility.
With the closing of the purchase, Tilray is claiming 40% market share within the cannabis beverage segment.
Truss was a Molson Coors / HEXO Joint Venture where they split the revenue "almost" 50/50, slightly in favor of MC.
What pleases me most is that all the patents, IP, etc will now remain under the Tilray Brands banner. There are some really good infused beverage patents in there that will do them well IMHO