Tilray Brands acquires BrewDog

Global lifestyle and consumer packaged goods company Tilray Brands has completed the acquisition of key assets from the global craft beer platform BrewDog for a total consideration of £33 million. The transaction includes BrewDog’s worldwide brand and intellectual property, its UK brewing operations, and a portfolio of eleven strategic brewpubs located across the United Kingdom and Ireland. Tilray is also in separate negotiations to acquire BrewDog assets in the United States and Australia, with discussions expected to conclude within about 30 days.

Founded in 2007, BrewDog has grown into one of the most recognised craft beer brands globally. The company gained prominence in the United Kingdom with a portfolio of craft, premium, and low- and no-alcohol beers such as Punk IPA, Hazy Jane, Lost Lager and Wingman. Through international breweries, brewpubs and strategic partnerships, the brand built strong global awareness and a vertically integrated beverage and hospitality platform.

The acquisition provides Tilray with an opportunity to strengthen its presence in the UK and expand into previously untapped international markets. According to Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands, BrewDog helped redefine modern craft beer through bold innovation and creativity. He noted that Tilray plans to refocus the brand on craft beer excellence while investing strategically to restore profitable growth.

Simon added that Tilray’s management brings operational expertise, a diversified global beverage infrastructure and disciplined investment capabilities to support BrewDog’s next phase of growth. With the addition of BrewDog, Tilray expects its global beverage platform to reach approximately $500 million in annual revenue, forming one of the largest diversified craft beverage platforms worldwide. On a combined basis, the company anticipates its broader global business to reach around $1.2 billion in annualised revenue.

The acquired assets including brewing operations and brewpubs in cities such as Birmingham, Dublin, Manchester and Edinburgh are projected to generate approximately $200 million in annual net revenue and $6–8 million in adjusted EBITDA. The business is expected to become cash-flow positive by fiscal 2027 as integration and operational efficiencies are implemented.