Tilray Brands Seizes 40% Of Canada's Cannabis Beverages Market Share By Acquiring This Company

In a significant expansion of its cannabis beverage operations, Tilray Brands Inc TLRY has officially completed its acquisition of Truss Beverage Co. from Molson Coors Beverage Co TAP. This strategic move, announced on Wednesday, cements Tilray’s dominant position in the Canadian cannabis beverage market, boosting its market share to approximately 40%.

Enhanced Operations And Market Leadership

The acquisition of Truss Beverage brings several critical advantages to Tilray. Key among them is the bolstering of Tilray’s beverage operations in Canada. Since August 2023, the company has transitioned all cannabis beverage operations to its London, Canada manufacturing facility, optimizing utilization and reducing costs. Further expansion is planned with the state-of-the-art Truss Beverage facility in Belleville, Ontario, aimed at pioneering new beverage innovations and broadening Tilray’s beverage portfolio.

Optimized Commercial Strategy

Tilray's acquisition strengthens its already robust portfolio, which now includes Canada's top-selling cannabis brands across various categories such as Good Supply, RIFF and Broken Coast. This merger not only solidifies Tilray's leadership in the cannabis beverage market but also optimizes its commercial network. By integrating collective sales, marketing and distribution forces, Tilray expects to enhance its commercial footprint and drive further market share growth.

“Truss has elevated our market share and positions us at the forefront of adult-use beverages,” said Blair MacNeil, president of Tilray Canada. “We are now strengthening our Canadian operations to be better positioned to further expand our business and consumer base through new brand and product innovation and by serving new consumer segments and occasions."

TLRY Price Action
TLRY's shares were trading 0.99% higher at $2.05 per share at the time of this writing around 10 AM ET Wednesday.

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