Tilray Completes Truss Beverage Acquisition from Molson Coors
Tilray Brands, a cannabis CPG company, today announced the completion of its acquisition of Truss Beverage Co. from Molson Coors after satisfying its remaining contractual obligations. News of the deal first broke in August 2023 when Tilray announced its plan to acquire the remaining 57.5% equity ownership of Truss from Molson Coors Canada.
The acquisition will bolster Tilray’s beverage operations in Canada. The company has already transitioned all cannabis beverage operations to its manufacturing facility in London, Canada. Tilray also plans to use Truss's state-of-the-art facility in Belleville, Ontario for new product development and innovation.
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According to the company, the acquisition will boost its roughly 40% share of the Canadian cannabis beverage market.
In a statement, Tilray Canada President Blair MacNeil said the company is now strengthening its Canadian operations to support further expansion to support new brand and product launches.
Cannabis beverages do almost $100 million at retail in Canada. The company is hoping regulatory changes will make cannabis beverages more accessible in the country, including the possibility of on-tap THC options in restaurants and bars.
Tilray's portfolio now includes notable brands like Good Supply, RIFF, Broken Coast, Solei, Canaca, HEXO, Redecan, Original Stash, Bake Sale, XMG and Mollo.
