Tilray Brands, Inc. (TLRY): M&A transaction — Tilray Brands acquires BrewDog assets for £33M; eyes $200M annual revenue from acquisition

Tilray Brands, Inc.

Acquired BrewDog's global IP, UK brewing ops, and 11 brewpubs for £33M (~$44.1M) via pre-pack administration.
Acquired assets expected to generate ~$200M annual net revenue and ~$6-$8M adjusted EBITDA in FY2027.
Combined global beverage platform projected at ~$500M; total Tilray annualized revenue ~$1.2B.
Separate negotiations ongoing for BrewDog assets in US and Australia, expected to close in ~30 days.
BrewDog brand includes Punk IPA, Hazy Jane, Wingman, Elvis Juice, Dead Pony Club.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Tilray Brands, Inc. completed an acquisition involving BrewDog plc for £33,000,000 (or approximately US $44.1 million) (closed 2026-03-02).

Action: acquisition
Counterparty: BrewDog plc
Consideration: £33,000,000 (or approximately US $44.1 million)
Closing: 2026-03-02

Exact text from the filing

has agreed to guarantee the obligations of Tilray UK under the terms of the Purchase Agreement. The aggregate purchase price for the acquired business and assets acquired is £33,000,000 (or approximately US $44.1 million). Substantially all liabilities of the BrewDog Group arising prior to the closing of the transaction will remain with the BrewDog Group and were

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tilray Brands, Inc. entered into Business and Asset Sale Agreement with BrewDog plc and certain of its subsidiary undertakings (collectively, the "BrewDog Group") valued at £33,000,000 (or approximately US $44.1 million) (effective 2026-03-02).

Action: entry
Agreement: asset purchase
Counterparty: BrewDog plc and certain of its subsidiary undertakings (collectively, the "BrewDog Group")
Value: £33,000,000 (or approximately US $44.1 million)
Effective: 2026-03-02

Exact text from the filing

On March 2, 2026, Tilray Brands UK Ltd (“ Tilray UK ”), a company registered in the United Kingdom and wholly owned and controlled by Tilray Brands, Inc. (the “ Company ”), entered into a Business and Asset Sale Agreement (the “ Purchase Agreement ”).

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Source: SEC EDGAR

accession 0001437749-26-006389

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