Tilray Brands Inc. last week acquired Truss Beverage Co. from Molson Coors Canada, further expanding the company’s cannabis market share position in Canada.
Tilray Acquires Truss Beverage Co. From Molson Coors Canada
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Cannabis company Tilray Brands Inc. last week acquired Truss Beverage Co. from Molson Coors Canada. Tilray said the deal positions it as a “leader in adult-use cannabis beverages in Canada, with a combined pro-forma market share of about 36%.”
In a statement, Blair MacNeil, president of Tilray Canada, said the “acquisition further strengthens Tilray’s number one cannabis market share position in Canada and positions the company at the forefront of the adult-use beverage sector.”
“We are excited to build upon our leading portfolio of beloved cannabis brands and to further diversify our product offerings while broadening our consumer reach and enhancing consumer’s lives.” — MacNeil in a press release
The company added that, in Canada, cannabis beverages are a nearly $100 million sector and that they are expecting “the regulatory landscape for beverage distribution to evolve, with authorities re-evaluating their consumer policies.”
Tilray’s expanded cannabis portfolio now includes the beverage brands XMG, Mollo, House of Terpenes, and Little Victory.
Tilray had been a part owner in the beverages firm, but the deal saw the company acquire the remaining 57.5% equity ownership in the brand.
The company estimates that, in Canada, there are more than 10.6 million potential cannabis beverage customers that remain untapped.
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