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.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Verses Hits Commercialization Stage With Genius AI Platform

Related News

Medmen Posts Q4 Loss Of $46.2 Million

Medmen Enterprises (CSE: MMEN) last night reminded investors why Canaccord Genuity had a long standing...

Friday, September 24, 2021, 07:29:00 AM

Tilray: Cantor Slashes Price Target To $7.40 Ahead Of Earnings

Tilray (TSX: TLRY) is expected to report its second fiscal quarter 2022 results on January...

Friday, January 7, 2022, 03:58:00 PM

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 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 Records US$48.17 in Third Quarter Revenues

Tilray Inc (NASDAQ: TLRY) reported third quarter financial results after the bell today, posting net...

Tuesday, November 12, 2019, 05:33:16 PM