Tilray Brands Completes Acquisition of Truss Beverage Co.
January 24 2024 - 7:00AM
Tilray Brands, Inc. (“Tilray Brands”, “Tilray” or the “Company”)
(Nasdaq | TSX: TLRY), a leading global cannabis-lifestyle and
consumer packaged goods company, today announced the completion of
its acquisition of Truss Beverage Co. (“Truss Beverage”) from
Molson Coors Beverage Company (“Molson Coors”) (NYSE: TAP) and the
satisfaction of remaining contractual obligations.
The Truss Beverage acquisition provides several
key strategic benefits, including:
- Bolsters Tilray’s Beverage
Operations in Canada. Since acquiring the remaining 57.5%
equity ownership from Molson Coors in August 2023, Tilray has
transitioned all cannabis beverage operations to its London, Canada
manufacturing facility, maximizing utilization, and lowering costs.
Tilray plans to operate the state-of-the-art Truss Beverage
facility in Belleville, Ontario to explore the production of new
beverage innovations and to expand its beverage portfolio.
- Strengthens Tilray’s #1
Cannabis Market Share Position and Solidifies Leadership in
Cannabis Beverage Market. Tilray boosts its leading
cannabis market share position in Canada with ~40% market share in
cannabis beverages.
Tilray’s combined brand portfolio now includes
Canada’s top-selling brands across all cannabis product categories
- Good Supply, RIFF, Broken Coast, Solei, Canaca, HEXO, Redecan,
Original Stash, Bake Sale, XMG, Mollo, and others.
- Optimizes Commercial
Network Through Collective Sales, Marketing and Distribution
Force. Tilray is optimizing its sales, marketing, and
distribution network with GND and its recently acquired cannabis
beverage brands. This expanded network is expected to strengthen
the Company’s commercial footprint and drive market share
growth.
Blair MacNeil, President, Tilray Canada, added,
“Truss has elevated our market share and positions us at the
forefront of adult-use beverages. We are now strengthening our
Canadian operations to be better positioned to further expand our
business and consumer base through new brand and product innovation
and by serving new consumer segments and occasions.”
About Tilray Brands
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY),
is a leading global cannabis-lifestyle and consumer packaged goods
company with operations in Canada, the United States, Europe,
Australia, and Latin America that is changing people's lives for
the better – one person at a time. Tilray Brands delivers on this
mission by inspiring and empowering the worldwide community to live
their very best life, enhanced by moments of connection and
wellbeing. Patients and consumers trust Tilray Brands to be the
most responsible, trusted and market leading cannabis consumer
products company in the world with a portfolio of innovative,
high-quality, and beloved brands that address the needs of the
consumers, customers, and patients we serve. A pioneer in cannabis
research, cultivation, and distribution, Tilray Brands’
unprecedented production platform supports over 20 brands in over
20 countries, including comprehensive cannabis offerings,
hemp-based foods, and craft beverages.
For more information on Tilray Brands, visit
www.Tilray.com and follow @Tilray.
Forward-Looking
Statements Certain statements in this communication
that are not historical facts constitute forward-looking
information or forward-looking statements (together,
“forward-looking statements”) under Canadian and U.S. securities
laws and within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, that are intended to be subject to the “safe
harbor” created by those sections and other applicable laws.
Forward-looking statements can be identified by words such as
“forecast,” “future,” “should,” “could,” “enable,” “potential,”
“contemplate,” “believe,” “anticipate,” “estimate,” “plan,”
“expect,” “intend,” “may,” “project,” “will,” “would” and the
negative of these terms or similar expressions, although not all
forward-looking statements contain these identifying words. Certain
material factors, estimates, goals, projections, or assumptions
were used in drawing the conclusions contained in the
forward-looking statements throughout this communication.
Forward-looking statements include statements regarding our
intentions, beliefs, projections, outlook, analyses, or current
expectations concerning, among other things, the Company’s ability
to commercialize new and innovative products worldwide and achieve
market share growth and expansion. Many factors could cause actual
results, performance, or achievement to be materially different
from any forward-looking statements, and other risks and
uncertainties not presently known to the Company or that the
Company deems immaterial could also cause actual results or events
to differ materially from those expressed in the forward-looking
statements contained herein. For a more detailed discussion of
these risks and other factors, see the most recently filed annual
information form of Tilray and the Annual Report on Form 10-K (and
other periodic reports filed with the SEC) of Tilray made with the
SEC and available on EDGAR. The forward-looking statements included
in this communication are made as of the date of this communication
and the Company does not undertake any obligation to publicly
update such forward-looking statements to reflect new information,
subsequent events, or otherwise unless required by applicable
securities laws.
Media:Berrin
Nooratanews@tilray.com
InvestorsRaphael
Gross203-682-8253Raphael.Gross@icrinc.com
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