January 24, 2024 By Tilray Brands
(Globe Newswire) Leamington, Ont. – Tilray Brands, Inc., a leading global cannabis-lifestyle and consumer packaged goods company, today announced the completion of its acquisition of Truss Beverage Co. from Molson Coors Beverage Company 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 per cent 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 per cent 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.”
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