10:59 AM EDT, 09/03/2024 (MT Newswires) -- Tilray Brands ( TLRY ) completed its acquisition of craft breweries Hop Valley Brewing, Terrapin Beer, and Revolver Brewing, from Molson Coors.

This acquisition strengthens Tilray's leadership position in the U.S. craft beer market as the 5th largest craft brewer in the country and the top craft brewer in the Pacific Northwest and Georgia.

"With our proven track record of creating brand growth, we are confident in our ability to drive revenue, generate cost synergies, and expand distribution, further strengthening these brands and solidifying Tilray's position as a leader in the craft beverage industry," said CEO Irwin Simon. "This strategic acquisition creates additional growth opportunities for our global beverage business, which reinforces our commitment to enhancing shareholder value."

Tilray was last seen down $0.035, to $2.2750 on the Toronto Stock Exchange.

Price: 2.28, Change: -0.04, Percent Change: -1.52