Tilray Brands, a cannabis and craft beer producer, has secured a licensing agreement with the Carlsberg Group for the production, marketing, and selling of Carlsberg’s beer portfolio in the U.S. The five-year agreement is set to commence in 2027, with a possibility of automatic renewal for another five years based on performance criteria. This partnership includes Carlsberg’s popular brews such as Carlsberg Elephant, 1664, and Kronenbourg 1664 Blanc.
By collaborating with Carlsberg, Tilray aims to expand the Danish brewing giant’s market presence in the U.S. and cater to the growing consumer demand for premium and imported beers. Despite the challenges faced by alcohol producers due to declining beer consumption and shifting consumer preferences, Tilray sees opportunities in the premium beer segment.
CEO of Tilray Brands, Irwin Simon, emphasized the importance of this agreement by stating, “Beer is here to stay, and this partnership aligns with our strategy of partnering with top-tier brands to enhance our beverage offerings.” Tilray’s beverage portfolio includes well-known craft beer labels like Shock Top, Terrapin Beer, and Sweetwater Brewery, among others. The acquisition of 12 brands in recent years has further strengthened Tilray’s position in the beverage industry.
Expanding its beer portfolio not only diversifies Tilray’s product offerings but also provides protection against regulatory uncertainties surrounding hemp-derived THC beverages. Despite potential bans on THC drinks in the U.S., Tilray maintains a dominant market share in the THC beverage sector, which continues to show promising growth.
In its latest financial report, Tilray reported a 3% increase in net revenue to $217.5 million. While cannabis sales grew by 3% to $67.5 million, beverage net revenue declined by 20% to $50.1 million compared to the previous year.