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Friday Night Beer Blog [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']

Date: 2023-08-11

Hi beer fans, happy Friday!

The big beer news this week is AB-Inbev selling several of their craft breweries to cannabis and beverage company Tilray.

The acquired brands include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and Hi Ball Energy; the deal includes all employees, brewing facilities, and brewpubs. (Separately but also on Aug. 7, ABI sold Virtue Cider back to its founder, Greg Hall, Beer Marketer’s Insights reports .) Tax filings show Tilray will pay $85 million in cash for the eight brands—the deal is expected to close later this year.

The current production volume across all these brands and locations wasn’t discussed, but is upwards of 500,000 barrels. Buying the collection for near pennies-on-the-dollar is an incredible deal as Tilray’s strategic interest in them appears to stem from the scale, synergies, and manufacturing capacity they can provide the company’s broader beverage-alcohol business. The added volume from the acquired breweries will make Tilray the fifth largest craft beer company in the U.S.

ABI was a willing seller, as it has been winnowing its craft beer portfolio in recent years. It shuttered its most recent craft acquisition, Platform Brewing, in February, after its sales plummeted , and subsequently laid off a number of employees at its craft breweries and some of its centralized craft marketing staff in New York.

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[1] Url: https://www.dailykos.com/stories/2023/8/11/2186741/-Friday-Night-Beer-Blog

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