Celebrating five years of growth: Tilray Brands reflects on industry leadership in Canadian cannabis
October 19, 2023 By Grow Opportunity Staff
(Globe Newswire) Toronto — Tilray Brands, Inc., a leading global cannabis-lifestyle and consumer packaged goods company, is celebrating five years of remarkable growth and industry leadership in the Canadian cannabis market since legalization.
Over the past half-decade, Tilray has emerged as the most robust and leading international cannabis LP in Canada with a cannabis market share of approximately 13.4 per cent, inclusive of recent strategic acquisitions of HEXO Corp. and Truss Beverage Co.
Irwin D. Simon, chairman and CEO, Tilray Brands, Inc. said, “In the span of five years, we have come a long way and despite the many challenges we and our industry have faced, I am proud of what we have created and accomplished across our Canadian cannabis businesses including Aphria, HEXO, Truss Beverages, and Tilray Brands. Over the next five years, we look forward to working with the Canadian government to help strengthen our industry as we have plenty of learnings to capitalize on as we write the next chapter and evolution of Canadian cannabis.”
Mr. Simon continued, “In Canada, we are building the model of a safe and responsible high growth industry that other countries can learn from and emulate as cannabis legalization continues to proliferate across the globe. Tilray Brands is committed to leading the global cannabis industry in quality, innovation, brands, and consumer insight while building long-term shareholder value.”
Reflecting on the journey, Blair MacNeil, president, Tilray Canada, added, “From the outset, our mission has been deeply understanding our consumers and ensuring we develop brands and products that resonate with both the adult-use and medical markets. This consumer-centric approach has been the cornerstone of our innovation and success, guiding every decision we make and driving our continuous growth. Tilray’s strength in Canada spans across categories; we are ranked #1 in sales for cannabis flower, oils, concentrates, and THC beverages, #2 in pre-rolls, #4 in vape, and among the top 10 in all other major categories. We have grown our Canadian cannabis revenue by 16.5 per cent this past quarter alone and maintained our #1 position in leading cannabis market share.”
Significant milestones marking Tilray’s five-year leadership in the Canadian cannabis industry include the acquisition of Broken Coast in 2018; the monumental business combination of Tilray and Aphria in 2021, creating the Tilray Brands_a global cannabis and CPG leader, as well as the growth and expansion of Tilray’s medical cannabis portfolio encompassing four unique medical brands: Broken Coast, Aphria Medical, Tilray, and Symbios; and the transformative acquisition of HEXO Corp. and acquisition of Truss Beverage Co. earlier this year, further solidifying the company’s market dominance.
Tilray Brands’ comprehensive Canadian cannabis portfolio includes:
— Good Supply: Good Supply is one of Canada’s leading cannabis brands and has been recognized as #1 in flower, and best-selling pre-rolls, vapes, and concentrates, and has become a favourite among consumers and budtenders.
— Redecan is a Canadian cannabis company with over 30 years in agriculture. Redecan’s tools are fresh water and sunshine, farming the way it has been done for hundreds of years.
— Broken Coast is a heritage cannabis brand widely recognized for setting the standard for craft cannabis in Canada.
— CANACA is a proudly Canadian brand that indulges your unapologetic love for Canada and cannabis. We are all about elevated adventures and expanding your horizons.
— Chowie Wowie is a cannabis edible brand that believes edibles should be fun, safe, tasty, and consistent. And most important of all, enjoyed with friends.
— RIFF was born out of the love for a good joint effort. Committed to providing quality cannabis products and encouraging creativity, RIFF has been widely recognized in the Canadian landscape as a brand that has always supported creative explorers and connoisseurs, serving as a leader in curating and contributing to local events and artist showcases that reflect the RIFF lifestyle.
— Solei is a leading cannabis wellness and lifestyle brand with thoughtfully designed products for curating sensorial experiences based on what you need, when you need it, entirely on your terms.
— Original Stash is straightforward and uncomplicated. That’s the way your stash should be. Grown in a controlled environment, Original Stash is a blend of high-quality weed sold for a lot less than you’d expect.
— HEXO flower is sun grown in hybrid greenhouses and is methodically trimmed, dried and cured at HEXO’s flagship facility. Our commitment to quality shines with this flower product, grown and packaged in a highly controlled environment for a consistent and superior consumer experience.
— XMG is one of Canada’s winning cannabis beverage brands offering a range of bold drink flavours for the avid consumer.
— Mollo offers a collection of cannabis infused beverages that embrace clean, crisp, non-alcoholic flavours reminiscent of popular lager profiles, and is best known in Canada for its first-of-its-kind balanced offering of 10mg THC and 10mg CBG.
— Bake Sale All Purpose Flower is a blended product that offers high-quality buds with pungent terpene aromas, approachable THC levels, and a variety of options for consumption.
— The Batch: The Batch believes in keeping cannabis simple and good, serving customers consistently reliable product, with at affordable prices.
— Tilray is the global leader in the advancement of cannabinoid-based medicine, with a keen focus on providing research-backed medical cannabis products to physicians, pharmacies, and patients, around the world.
— Aphria is a producer of medical cannabis products. We are truly powered by sunlight; our quality medical cannabis is 100% greenhouse-grown, allowing for the most natural conditions for quality products.
— Symbios was designed with quality, care, and affordability in mind, to help support patients on their medical and wellness journey.
— A vibrantly Quebecois cannabis brand and champion of inspired, creative living. Dubon offers master-crafted cannabis strains as whole flower and pre-rolls, exclusively available through the Societe quebecoise du cannabis in Quebec (SQDC).
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