Tilray snaps up BrewDog’s Australian assets – Daily Business

BrewDog’s bar and brewery in Brisbane

Tilray Brands has acquired BrewDog’s Australian assets for an undisclosed sum, following its £33 million deal for key assets in the UK.

The US-headquartered medicinal cannabis and beverage group has taken on the Brewing Australia business, which includes a brewing and production facility in Brisbane, Queensland.

Tilray had indicated that it was in talks to buy BrewDog’s interests in the US and Australia and it remains in talks over the US assets.

However, BrewDog’s Atlanta brewery announced its permanent closure on Monday. While the owner did not give a specific reason for the Atlanta closure, it said it is focusing “on how best to position BrewDog’s brands for the next chapter in the US.”

In the statement on the Australia deal, Irwin Simon, CEO of Tilray Brands, said: “The acquisition of BrewDog’s profitable Australian brewery operations and flagship bars represents another important milestone in advancing Tilray’s global beverage and consumer products strategy.

“Australia is a highly attractive craft beer market with a strong beer culture and serves as a strategic gateway to the rapidly growing Asia-Pacific region.”

Tilray last week secured BrewDog’s worldwide intellectual property, its UK brewing operations and 11 bars in the UK and Ireland.

Reflecting on next steps, President of Tilray Brands’ international business, Rajnish Ohri, said: “Together with the BrewDog team, we will focus on growing the brand locally while leveraging our brewing, distribution, and commercial capabilities to expand BrewDog across Australia’s national retail chain footprint and introduce Tilray’s broader beverage portfolio across Australia and the Asia-Pacific region, including key markets such as Japan.”

Tilray’s initial deal for BrewDog last week resulted in 484 redundancies in the UK.

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