(This is a developing story and will be updated.)
Canadian cannabis producer Tilray Brands is adding to its alcohol portfolio with the acquisition of eight beverage brands from Anheuser-Busch, including Breckenridge and Shock Top breweries, a cider maker and an energy seltzer.
Tilray, already one of the largest craft brewers in the United States, will pay the equivalent of $85 million in cash for the brands, the company said in a filing with the U.S. Securities and Exchange Commission.
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The all-cash purchase includes current employees, breweries and brewpubs associated with the various brands.
The acquisition is expected to close by the end of September, Tilray said in its securities filing.
The eight beverage brands – which include well-known craft brewers – are:
Blue Point Brewing Co. Breckenridge Brewery. Redhook Brewery. Shock Top. 10 Barrel Brewing Co. Widmer Brothers Brewing. Hiball Energy. Square Mile Cider Co.
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