Cannabis and alcohol company Tilray acquires craft brewer Montauk

Tilray Brands has taken another step in the beverage alcohol space, adding New York craft brewer Montauk Brewing Co. to its cannabis and alcohol portfolio. The deal follows two other Tilray acquisitions: later in 2021, the New York-based operator acquired Colorado-based Breckenridge Brewery for approximately $103 million and California brands Alpine and Green Flash for $5.1 million. in November 2020, Tilray acquired Georgia-based SweetWater Brewing Co. in a deal worth about $300 million, and Tilray said it plans to "leverage SweetWater's existing national infrastructure to accelerate Montauk Brewing's distribution network and revenue growth." At the time of federal marijuana legalization, Tilray "plans to leverage its strategic infrastructure, operations and consumer brand loyalty in the beer, spirits and snacks categories to develop THC-based products and further expand its business opportunities," the company said in its release.

Information source: new.qq.com/omn/author/8713560