Tilray Brands to acquire eight beer/beverage brands from Anheuser-Busch for $85M cash

Tilray Brands, Inc.

Acquires Shock Top, Breckenridge, Blue Point, 10 Barrel, Redhook, Widmer, Square Mile Cider, HiBall for $85M cash; expected close by end of Sept 2023.
Deal positions Tilray as the 5th largest U.S. craft brewer with ~5% craft beer market share (up from 9th).
Pro forma revenue for U.S. beverage alcohol segment plus acquired brands expected ~$300M; craft beer pro forma ~$250M.
Transaction expected accretive to EBITDA; adds four production facilities and eight brewpub locations.
Mutual termination fee of $4M; subject to regulatory approval and customary closing conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Tilray Brands, Inc. entered into Purchase Agreement with Anheuser-Busch Companies, LLC, Craft USA Holdings, LLC, Craft Brew Alliance, Inc. valued at $85 million (effective 2023-08-07).

Action: entry
Agreement: asset purchase
Counterparty: Anheuser-Busch Companies, LLC, Craft USA Holdings, LLC, Craft Brew Alliance, Inc.
Value: $85 million
Effective: 2023-08-07

Exact text from the filing

On August 7, 2023, Tilray Brands, Inc., a Delaware corporation (“Tilray”), entered into a securities and asset purchase agreement (the “Purchase Agreement”) by and among Anheuser-Busch Companies, LLC, a Delaware limited liability company, Craft USA Holdings, LLC, a Delaware limited liability company, Craft Brew Alliance, Inc., a Washington corporation (collectively, “AB”), Tilray and Tilray Beverages, LLC, a Delaware limited liability company and wholly owned subsidiary of Tilray.

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Tilray Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-022325

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