With its right hand, Tilray Brands has consolidated a swath of the Canadian cannabis market, most recently buying Hexo Corp. in its quest to grow market share.
With its left hand, Tilray has gone on a beverage alcohol acquisition bender in the United States.
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After several alcohol acquisitions that turned Tilray into one of the largest U.S. craft brewers, the company recently announced an $85 million deal to acquire eight craft beer brands from brewing behemoth Anheuser-Busch InBev.
As the dust settles on Tilray’s latest alcohol purchase, a question lingers for investors: Will the company be able to build meaningful ties between its cannabis business and its alcohol operations, in accordance with statements made by company management?
For now, cannabis remains Tilray’s biggest business in terms of revenue.
During Tilray’s August conference call explaining the Anheuser-Busch transaction, CEO Irwin Simon said the company’s pro-forma revenue of about
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