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NEW YORK, Sept. 03, 2024 (GLOBE NEWSWIRE) — Tilray Manufacturers, Inc. (“Tilray”, “our”, “we” or the “Firm”) (Nasdaq: TLRY; TSX: TLRY), a worldwide life-style and client packaged items firm, has efficiently accomplished the beforehand introduced acquisition of craft breweries Hop Valley Brewing Firm, Terrapin Beer Co., and Revolver Brewing, from Molson Coors Beverage Firm (“Molson Coors”) (NYSE: TAP).
Irwin D. Simon, Chairman and Chief Government Officer of Tilray Manufacturers, mentioned, “Tilray Manufacturers is crafting a brand new future for manufacturers within the craft beer trade. We’re proud to welcome these distinctive manufacturers and the gifted groups behind them to Tilray. With our confirmed monitor document of making model development, we’re assured in our capability to drive income, generate value synergies, and develop distribution, additional strengthening these manufacturers and solidifying Tilray’s place as a frontrunner within the craft beverage trade. This strategic acquisition creates further development alternatives for our world beverage enterprise, which reinforces our dedication to enhancing shareholder worth. At Tilray Manufacturers, we’re always pushing the boundaries to deliver new and higher experiences to our shoppers. Our plan is to drive development and maximize the potential of those manufacturers to their fullest capability, whereas sustaining our dedication to delivering high-quality merchandise and assembly the evolving wants of our shoppers.”
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This acquisition additional strengthens Tilray’s management place within the U.S. craft beer market because the fifth largest craft brewer within the nation and the highest craft brewer within the Pacific Northwest and Georgia. It additionally anchors Tilray in Texas, the second largest beer consumption state, and expands Tilray’s craft beer portfolio throughout key beer markets, including 30% new beer shopping for accounts. Tilray Manufacturers’ spectacular beverage portfolio now consists of among the main craft beer, spirits, and non-alcohol beverage manufacturers equivalent to SweetWater Brewing Firm, Montauk Brewing Firm, Alpine Beer Firm, Inexperienced Flash Brewing Firm, Shock High, Breckenridge Brewery, Breckenridge Distillery, Blue Level Brewing Firm, 10 Barrel Brewing Firm, Redhook Brewing Firm, Widmer Brothers Brewing, Sq. Mile Cider Firm, HiBall Vitality, Blissful Flower CBD, together with Canada’s high leisure hashish and THC beverage manufacturers, Mollo and XMG.
Advisors
TD Securities acted as monetary advisor, and DLA Piper LLP (US) acted as exterior authorized counsel to Tilray Manufacturers.
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About Tilray Manufacturers
Tilray Manufacturers, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a number one world life-style and client packaged items firm with operations in Canada, the USA, Europe, Australia, and Latin America that’s main as a transformative drive on the nexus of hashish, beverage, wellness, and leisure, elevating lives by means of moments of connection. Tilray’s mission is to be a number one premium life-style firm with a home of manufacturers and revolutionary merchandise that encourage pleasure, wellness and create memorable experiences. Tilray’s unprecedented platform helps over 40 manufacturers in over 20 nations, together with complete hashish choices, hemp-based meals, and craft drinks.
For extra data on how we’re elevating lives by means of moments of connection, go to Tilray.com and observe @Tilray on all social platforms.
Cautionary Assertion Regarding Ahead-Trying Statements
Sure statements on this communication that aren’t historic info represent forward-looking data or forward-looking statements (collectively, “forward-looking statements”) below U.S. and Canadian securities legal guidelines and inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended, which are meant to be topic to the “protected harbor” created by these sections and different relevant legal guidelines. Ahead-looking statements could be recognized by phrases equivalent to “forecast,” “future,” “ought to,” “may,” “allow,” “potential,” “ponder,” “consider,” “anticipate,” “estimate,” “plan,” “anticipate,” “intend,” “might,” “venture,” “will,” “would” and the detrimental of those phrases or comparable expressions, though not all forward-looking statements comprise these figuring out phrases. Sure materials elements, estimates, objectives, projections, or assumptions have been utilized in drawing the conclusions contained within the forward-looking statements all through this communication. Ahead-looking statements embrace statements concerning our intentions, beliefs, projections, outlook, analyses or present expectations regarding, amongst different issues: the timing and certainty of closing the acquisition; anticipated gross sales, distribution and market share development, income technology, synergies and accretion associated to the acquisition; Tilray’s capability to develop upon distribution and gross sales of alcohol merchandise within the U.S.; Tilray’s capability to reinforce the worth of its model portfolio; and Tilray’s anticipated investments specifically companies, together with craft beer. Many elements may trigger precise outcomes, efficiency, or achievement to be materially totally different from any forward-looking statements, and different dangers and uncertainties not presently identified to Tilray or that Tilray deems immaterial may additionally trigger precise outcomes or occasions to vary materially from these expressed within the forward-looking statements contained herein. For a extra detailed dialogue of those dangers and different elements, see essentially the most just lately filed Annual Report on Type 10-Okay (and different periodic reviews filed with the SEC) of Tilray made with the SEC and accessible on EDGAR and in Tilray’s Canadian securities filings. The forward-looking statements included on this communication are made as of the date of this communication, and, whereas Tilray believes that data gives an inexpensive foundation for these statements, these statements are inherently unsure, and buyers are cautioned to not unduly depend on these statements. You shouldn’t depend on forward-looking statements or forward-looking data as predictions of future occasions and Tilray doesn’t undertake any obligation to publicly replace such forward-looking statements to mirror new data, subsequent occasions or in any other case except required by relevant securities legal guidelines.
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