Tilray Brands has completed the acquisition of “certain strategic assets” from BrewDog in the US.
The New York-headquartered fmcg group is set to buy BrewDog’s US manufacturing and brewing operation in Columbus, Ohio, alongside three of its owned pubs and a hotel in the state.
It will also acquire BrewDog’s flagship US site in Las Vegas, as well as a franchised site in Denver, Colorado, and a licensed BrewDog venue in Columbus airport.
Financial terms of the deal were not disclosed.
It comes after Tilray struck a deal for BrewDog’s Australian assets last week, and the brewer’s global IP and UK business earlier this month.
Buying BrewDog’s “key US assets” would help advance Tilray’s “regional craft beer strategy across North America”, said CEO Irwin Simon.
“BrewDog has built a strong following in Ohio and established a highly visible presence in Las Vegas, including a flagship brewpub located on a premier stretch of the Las Vegas Strip,” he said. “These assets fit squarely within our brewpub model, creating destination-led venues that deepen consumer engagement while providing new opportunities to introduce and sell our broader portfolio of Tilray beverage brands.
“Tilray now owns the BrewDog brand and its intellectual property worldwide. This positions us to steward the brand’s next chapter with a unified strategy and a fully integrated North American brewpub footprint designed to support long‑term growth and brand strength.”
The transaction is set to close by the end of Tilray’s fiscal fourth quarter in May.
Read more: Who is BrewDog’s new owner Tilray Brands and can it revive ailing brewer’s fortunes?
Speaking to The Grocer following the pre-pack purchase of BrewDog’s UK business, Simon insisted the £33m Tilray had paid was “ultimately only a great bargain if we can make it work”.
Simon said the price paid reflected the precarious financial position in which BrewDog found itself, and the lack of time Tilray had to prepare its offer for the ailing beer business.
“This was not a traditional purchase, so we didn’t have time to do due diligence,” he said. “We didn’t have time to do reps and warranty and didn’t have time to get out there and visit and meet with management.”
Considered purely in the terms of the brand, team and “incredible” brewing facility Tilray had acquired, the BrewDog acquisition was “a great deal for us”, Simon conceded.
However, the Scottish brewer now required “plenty of investment” to “pull it all together and make it work”, he said.
“There’s a tonne of money that has got to be ploughed into this business to just get it started again,” he said. “Day one there was no money left.”
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