Tilray Brands, Inc. has entered into a definitive agreement to acquire four craft breweries from Molson Coors Beverage Company. 

The acquisition includes Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing and Atwater Brewery. With the pending acquisition of these breweries, Tilray’s portfolio will expand across key beer markets, adding 30% new beer buying accounts. Through this acquisition, Tilray’s beer business is expected to grow to 15 million cases annually.

The Tilray Beverages portfolio includes a range of craft beer, spirits and non-alcohol beverages including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy and Happy Flower CBD sparkling cocktails. 

“Tilray Brands is proud to be driving the most compelling and unique growth story in the craft beer industry,” says Irwin D. Simon, Tilray Brands’ chairman and CEO. “With the acquisition of these four craft breweries from Molson Coors, we are marking another strategic milestone in Tilray Brands’ growth plan. Our team’s expertise in operational excellence will enable us to unlock the full potential of these brands and businesses. We are confident in our ability to drive revenue, generate cost synergies, and expand national distribution reinforcing our leadership position in craft beer resulting in tremendous growth opportunities for our global beverage business.”

Molson Coors Chief Commercial Officer Michelle St. Jacques also points to how the transaction supports the company’s long-term strategic ambitions. 

“Last fall we set a clear portfolio premiumization ambition, and achieving it is going to require tighter focus on the segments we believe have the highest growth potential for our business,” St. Jacques says. “While we love these craft breweries and the people behind them, this move allows us to do exactly that – focus our time, energy and resources behind the initiatives we believe will best help us meaningfully grow our U.S. above premium portfolio in beer and beyond beer.”

Founded in 2009, Hop Valley Brewing Company is a craft brewery based in Eugene, Ore. It is known for crafting beers that reflect the flavors and spirit of the Pacific Northwest. Hop Valley includes one brewery and two taprooms. The brand is currently sold in 12 states, with core markets including Oregon, Washington, Idaho, Arizona, Northern California, Nevada, Wisconsin and Minnesota. It has about 43,000 points of distribution.

Terrapin Beer Company is a craft brewery based in Athens, Ga. Founded in 2002, Terrapin is committed to brewing unique, flavorful beers that push the boundaries of traditional brewing techniques. With a passion for experimentation, Terrapin has one brewery and one taproom. It is sold in 13 states with about 47,000 points of distribution. Core markets for Terrapin include Georgia, Florida, Wisconsin, North Carolina, South Carolina, Tennessee and Alabama.

Revolver Brewing is a craft brewery in Granbury, Texas. Established in 2012, Revolver is committed to producing high-quality, handcrafted beers using traditional brewing techniques and innovative brewing methods. From its flagship Blood & Honey American Ale to its seasonal offerings, Revolver's beers are known for their bold flavors and unique character. Revolver Brewing includes one brewery and one taproom and about 12,000 points of distribution across Texas, Oklahoma and Louisiana.

Atwater Brewery is a craft brewery based in Detroit, Michigan. Founded in 1997, Atwater is dedicated to brewing high-quality, handcrafted beers using traditional brewing techniques and innovative brewing methods. From its flagship Dirty Blonde Ale to its seasonal offerings, Atwater's beers are known for their bold flavors and unique character. Atwater includes one brewery and three taprooms. The brand is sold in about 10,000 points of distribution across six states including Michigan, Wisconsin, Illinois, Indiana, Ohio, and Kentucky.