Update: Tilray Brands confirms deal for BrewDog assets

Core Insights - Tilray Brands is acquiring parts of BrewDog for £33 million ($44.1 million), which includes brands, UK brewing assets, and 11 bars [1] - BrewDog is in discussions for additional undisclosed assets in the US and Australia [1] - BrewDog has engaged AlixPartners to assess interest in its loss-making business [2] Acquisition Details - The deal includes BrewDog's worldwide intellectual property, UK brewing operations, and 11 bars located in London, Birmingham, Manchester, Dublin, and Ellon [3] - The acquisition is expected to generate annual net revenue of approximately $200 million and adjusted EBITDA of $6-8 million [4] - The assets are projected to become cash-flow positive starting from the 2027 financial year [5] Employment Impact - The deal will preserve 733 jobs in the UK, but the closure of 38 BrewDog bars will result in 484 redundancies [4] Strategic Focus - Tilray's CEO emphasized a commitment to refocusing BrewDog on craft beer excellence and returning operations to profitable growth [3] - Cannabis now accounts for about 30% of Tilray's annual sales, indicating a diversification in revenue sources [6] Recent Activities - In recent years, Tilray has expanded its beverage business through acquisitions, including brands from Anheuser-Busch InBev and Molson Coors Beverage Co. [7]