Tilray Brands has a “clear path” to rebuild BrewDog into a $1bn-plus brand, its CEO has claimed.
In a strategic update delivered today (15 April), the US-listed pharmaceutical and cannabis company said it had “moved with speed” in the six weeks since it acquired BrewDog from administration to position the brand “for its next phase of growth”.
“Tilray has stabilised brewing volumes, maintained service levels across channels to ensure consistent stock availability, and has begun onboarding new distribution and strategic partners to support expansion,” it said.
Tilray boss Irwin Simon said the business was now “executing against a focused plan to expand BrewDog across the UK, Australia, and the United States, while further developing the brand in key growth markets, including the Middle East and India”.
“Our priorities are clear: strengthen BrewDog, accelerate innovation, and scale our global beverage platform,” Simon said. “We are already taking decisive steps to reinvest in the BrewDog brand, innovation pipeline, and brewpub experience, and we see a clear path to rebuilding BrewDog toward its prior valuation of over $1bn.”
Tilray paid an initial £33m to acquire the global IP and UK assets for BrewDog out of administration last month. It later added brewing facilities and bars in both Australia and the US, taking its total spend to north of £40m.
Read more: Can BrewDog’s new owner Tilray Brands return the brewer to growth?
Tilray expects the BrewDog business to be cashflow positive in 2027, and has earmarked “targeted investments” for both the brand and its existing bar estate, which it said had seen “limited investment in recent years”.
“These efforts are centred on reimagining the brewpub experience to better connect with today’s consumers while positioning the brand for long-term relevance,” it said.
One existing BrewDog location was set to become a “brewpub of the future”, acting as a testing ground for new innovations that could inform future changes across the estate, it added.
Tilray was also seeing “strong and growing demand” for its US craft beer portfolio in the UK, the supplier claimed.
It also plans to launch its Hi*Ball Energy clean energy drink brand in the UK. The move would help capture “incremental consumer demand within the fast-growing functional beverage category”, it said.
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