Tilray Closes Purchase Of Molson Coors’ Interest In Truss Beverage

Tilray Brands (TSX: TLRY) has finally closed on its acquisition of Truss Beverage Co. The company has bought out joint venture partner Molson Coors (NYSE: TAP) from the operation, in a transaction that was initially announced back in August 2023.

The figures behind the transaction as of yet are undisclosed. Recent filings made by Molson Coors indicate that they recorded a loss of US$11.1 million on the sale, however the sales figure was not provided, with the company indicating it was an “immaterial amount.”

Source: Molson Coors Q3 Results

Tilray however has acquired the 57.5% interest previously held by Molson in full, with remaining contractual obligations said to now be satisfied. As part of the purchase, all cannabis beverage operations have been transitioned to Tilray’s London, Canada manufacturing facility.

With the closing of the purchase, Tilray is claiming 40% market share within the cannabis beverage segment.

READ: Molson Coors Exits Cannabis Business With Divesture Of Truss Beverage Co To Tilray Brands

Truss Beverage was a joint venture agreement originally entered into between Molson Coors and Hexo Corp, prior to Hexo being acquired by Tilray in June 2023.

Tilray Brands last traded at $2.74 on the TSX.


Information for this briefing was found via Edgar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Tilray Q3 FY2025 Results: Shares Slump On 656% Wider Net Loss

Tilray Brands (TSX: TLRY) has reported its financial results for Q3 of fiscal 2025, ending...

Thursday, April 10, 2025, 07:21:00 AM

Tilray Hires New Chief Financial Officer, Chief Operating Officer

Tilray Inc (NASDAQ: TLRY) has bolstered its executive team this morning, with the appointment of...

Tuesday, January 14, 2020, 08:37:56 AM

Tilray Acquires Colorado Distillery To Expand Footprint In US “Upon Federal Cannabis Legalization”

Tilray (TSX: TLRY) evidently can’t decide if it wants to be a cannabis firm, or...

Wednesday, December 8, 2021, 08:41:48 AM

Tilray Cuts Guidance As Losses Widen In Q3

Tilray Brands (TSX: TLRY) has seen its revenue decline on a sequential basis for the...

Tuesday, April 9, 2024, 09:07:08 AM

Tilray: Fourth Quarter Consensus Estimates

Tilray (TSX: TLRY) (NASDAQ: TLRY) will be reporting its fourth quarter financial results on July...

Tuesday, July 27, 2021, 02:22:00 PM