AB InBev sells craft breweries

The world's largest brewing company is divesting eight of its craft beer breweries. They are going to cannabis and lifestyle company Tilray Brands (Canada), Craft Brewing Business reported last week. Tilray had already expressed interest in buying the brands earlier this year, it said.  

According to the statement, the beer and beverage brands involved are: Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company und HiBall Energy. The transaction includes the current employees, breweries and brewpubs associated with these brands. 

“Today’s announcement both solidifies our national leadership position and share in the U.S. craft brewing market and marks a major step forward in our diversification strategy,” stated Irwin D. Simon, Chairman and CEO, Tilray Brands. “Tilray is fully committed to invest in and champion the future of the U.S. craft beer industry by fueling new innovation that excites and further accelerates the growth of its consumer base.”

Tilray also owns the breweries SweetWater Brewing Co. , Montauk Brewing Co, Alpine Beer Company and Green Flash Brewing Co.

Source: Craft Brewing Business
Photo: Elevate @ Unsplash.com