Divestiture • Beverages

Tilray Brands Acquires Truss Beverage

On August 18, 2023, Tilray Brands acquired beverage company Truss Beverage from Molson Coors

Acquisition Context
  • This is Tilray Brands’ 1st transaction in the Beverages sector.
  • This is Tilray Brands’ 2nd transaction in Canada.
  • This is Tilray Brands’ 1st transaction in Ontario.

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M&A Deal Summary

Date August 18, 2023
Target Truss Beverage
Sector Beverages
Buyer(s) Tilray Brands
Sellers(s) Molson Coors
Deal Type Divestiture

Target Company

Truss Beverage

Toronto, Ontario, Canada
Truss Beverage is a producer of cannabis products providing a variety of taste experiences for multiple beverage occasions. Truss Beverage is based in Toronto, Ontario.
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Buyer Overview 1

Buyer

Tilray Brands

Leamington, Ontario, Canada

Category Company
Founded 2013
Sector Consumer Products
Employees2,842
Revenue 821M USD (2025)
DESCRIPTION

Tilray Brands is a global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America. Tilray Brands was founded in 2013 and is based in Leamington, Ontario.


Deal Context for Buyer #
Overall 2 of 3
Sector: Beverages 1 of 2
Type: Divestiture 1 of 2
State: Ontario 1 of 1
Country: Canada 2 of 2
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-10 HEXO

Gatineau, Quebec, Canada

HEXO is an award-winning consumer packaged goods cannabis company that creates and distributes prize-winning products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. As one of the largest licensed cannabis companies in Canada, HEXO Corp operates with 1.8 million sq. ft of facilities in Ontario and Quebec and a foothold in Greece to establish a Eurozone processing, production and distribution centre. HEXO was founded in 2013 and is based in Gatineau, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-12 Atwater Brewery

Detroit, Michigan, United States

Atwater Brewery is a craft brewery that offers traditional German-style lagers and unique ales. Atwater Brewery is based in Detroit, Michigan.

Buy -

Seller Profile 1

SELLER

Molson Coors

Chicago, Illinois, United States

Category Company
Founded 1774
Sector Beverages
Employees16,800
Revenue 11.6B USD (2024)
DESCRIPTION

Molson Coors is a US producer of beer. Molson Coors has a diverse portfolio of owned and partner brands, including signature brands Coors Light, Molson Canadian, Carling and Staropramen, as well as craft and specialty beers such as Blue Moon, Creemore Springs, Cobra and Doom Bar. Molson Coors Beverage was founded in 1774 and is based in Chicago, Illinois.


Deal Context for Seller #
Overall 1 of 2
Sector: Beverages 1 of 2
Type: Divestiture 1 of 2
State: Ontario 1 of 1
Country: Canada 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Blue Run

Georgetown, Kentucky, United States

Blue Run is a producer of finely crafted bourbon and rye whiskies. It is crafted by Blue Run Distillery Consultant and Liquid Advisor, Bourbon Hall of Famer Jim Rutledge and Whiskey Director Shaylyn Gammon. Blue Run Spirits was founded in 2020 and is based in Georgetown, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-12 Atwater Brewery

Detroit, Michigan, United States

Atwater Brewery is a craft brewery that offers traditional German-style lagers and unique ales. Atwater Brewery is based in Detroit, Michigan.

Sell -

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