Anheuser-Busch InBev (AB-InBev) announced today that it will sell eight craft brands to Tilray Brands, significantly cutting AB-InBev’s craft beer portfolio. Tilray, a Canadian cannabis company, will expand its growing craft holdings, which currently include SweetWater Brewing, Montauk Brewing, Green Flash, and Alpine Beer Co. The deal is expected to close in September, 2023.
The momentous deal will include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and Hiball Energy, which AB-Inbev discontinued in May of this year. The purchase price is equal to $85 million in cash, according to an 8-K filing by Tilray.
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