.png)
Anheuser-Busch has made constant headlines with consumers backlashing and boycotts, in regards to a failed marketing campaign involving transgender influencer Dylan Mulvaney. People know the backstory, and can have an opinion on the matter. I'm not here to talk politics and protests, I am here to talk beer.
Since Modelo surpassed Bud Light as America's favorite beer, the company's stock (Anhuerser-Busch InBEv: $BUD) has dropped. Per the New York Post, they company is reporting a 10.5% drop in revenue and a nearly 30% plunge in core profit in the US during the second quarter — and has lost nearly $40 billion in value. Yikes.
Trying to recoup lost revenue, Anheuser-Busch has had to make some drastic brand changing moves to reduce costs. Enter Tilray, a Canadian cannabis company, that is now purchasing some of their beer portfolio.
This is major new for the craft beer world. One, because a new player has entered the market, but two, that money is still to be invested in a saturated industry. Obviously the circumstances of acquisition are for different reasons, but all in all - it's a big win for Tilray, and a big loss for AB.
Tilray Brands, Inc. is a global cannabis-lifestyle and consumer packaged goods company, which focuses on medical cannabis research and the cultivation, processing, and distribution of cannabis products worldwide.
The eight brands Tilray will be purchasing are Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. The most well-known are the Shock Top Belgian Wheat and the Blue Point Pinstripe Pilsner. The deal is set to be finalized in September, for a total of $85 million.
Photo: UnTappd
Comments