BRECKENRIDGE, Colo — One of Colorado's most storied craft brewers has a new owner.
Breckenridge Brewery was sold by Anheuser-Busch to cannabis-lifestyle and consumer packaged goods company Tilray Brands, Inc., the companies announced Monday.
Tilray Brands said it has entered into a definitive agreement to acquire Breckenridge Brewery, Shock Top, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.
The transaction includes current employees, breweries and brewpubs associated with these brands, Tilray Brands added.
The purchase price will be paid in all cash and the transaction is expected to close in 2023, according to a filing made with the Securities and Exchange Commission Monday.
Tilray Brands previously bought Breckenridge Distillery at the end of 2021.
Anheuser-Busch acquired Breckenridge Brewery in 2016.
"These beer and beverage brands possess the hallmarks of strong consumer loyalty and further diversify Tilray’s growing U.S. beverage alcohol segment," Tilray Bands said in a release.
"The expected sales volume of the acquired brands will elevate Tilray Brands to the 5th largest craft beer business position in the U.S., up from the 9th, with current brands SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company and Green Flash Brewing Company. Tilray Brands also owns Breckenridge Distillery, the award-winning spirits brand and the World’s Best Blended Whisky, and Happy Flower CBD sparkling non-alcoholic cocktails."
"Today’s announcement both solidifies our national leadership position and share in the U.S. craft brewing market and marks a major step forward in our diversification strategy," Irwin D. Simon, Chairman and CEO, Tilray Brands, said.
"We are excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities. Tilray is fully committed to invest in and champion the future of the U.S. craft beer industry by fueling new innovation that excites and further accelerates the growth of its consumer base."
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