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Top related persons:
Busch - 1 Bud Light - 1 Bud - 1 that's - 1 Jefferies - 1 TD Cowen - 1 Rafael Marchante - 1 influencer Dylan Mulvaney - 1
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Wall Silicon Canada New York Breckenridge Distillery Cantanhede Portugal Washington
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Anheuser - 1 Service - 1 Bud Light - 1 Brands - 1 Breckenridge Brewery - 1 Point Brewing Company - 1 Brewing Company - 1 Redhook - 1

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☆ A Canadian cannabis company may soon own your favorite craft beer brands
  + stars: | 2023-08-08 | by ( Yeji Jesse Lee | ) www.businessinsider.com   time to read: +3 min
Canadian cannabis company Tilray is one of the biggest craft beer sellers in the US. On Monday, Anheuser-Busch said it was selling 8 craft beer brands to Tilray. Bud Light parent company Anheuser-Busch said on Monday that it was selling off eight of its craft beer brands to a Canadian cannabis company that's been inching into the craft beer space for quite some time now. It would make Tilray the 5th-largest craft beer company in the US, up from its 9th place ranking today, according to analysts from Jefferies. TD Cowen analysts said that craft beer sales declined 6% in 2021 and 9% last year.
Persons: Busch, Bud Light, Bud, that's, Jefferies, TD Cowen, Rafael Marchante, influencer Dylan Mulvaney Organizations: Anheuser, Service, Bud Light, Brands, Breckenridge Brewery, Point Brewing Company, Brewing Company, Redhook, Widmer Brothers Brewing, Cider Company, HiBall Energy, Jefferies, Montauk Brewing Company, SweetWater Brewing Company, Breckenridge, Reuters, US, Busch, Wall, Tilray Locations: Wall, Silicon, Canada, New York, Breckenridge Distillery, Cantanhede, Portugal, Washington
☆ The world's largest cannabis companies are gobbling up beer brands and striking deals with top athletes to hawk energy drinks because they're struggling to profit off pot
  + stars: | 2022-11-28 | by ( Jeremy Berke | ) www.businessinsider.com   time to read: +7 min
It's hard to make money in cannabis, so the world's largest cannabis companies are pivoting. The Canadian cannabis company Tilray in early November acquired Montauk Brewing Company, a New York craft-beer brewer. In a November 11 note, analysts at the investment bank Jefferies called Canopy's core Canadian cannabis business "a sideshow." Tilray's cannabis business slumps, while beer boomsLike Canopy, Tilray's core cannabis business is also declining while its beverage unit and other businesses are growing. Beyond cutting costs, it was, therefore, only a matter of time before the world's largest cannabis companies, with investors and shareholders breathing down their necks, looked elsewhere to boost their margins.
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