The fallout continues.
According to a report from The Daily Caller, Anheuser-Busch is selling eight beer brands to Canadian cannabis company Tilray.
AB InBev is unloading Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company and Hiball Energy.
The deal is expected to be finalized in Sept. 2023 for $85 million, according to a Tilray 8-K filing.
Tilray shared the news on X:
$TLRY Announces Agreement to Acquire Eight Beer & Beverage Brands from Anheuser-Busch, Fueling Tilray’s Future in The U.S. Craft Beer Industry.
Details https://t.co/COLGkq3mM4 pic.twitter.com/XB677bJj0F
— Tilray Brands (@tilray) August 7, 2023
Anheuser-Busch InBev says it lost $395 million in North American revenue between April and June in the wake of its disastrous partnership with trans TikTok influencer Dylan Mulvaney.