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Tilray Brands, a cannabis and craft beer producer. License agreement with Carlsberg Group For the production, marketing and sales of the Danish brewing giant’s beer portfolio in the United States.
The five-year contract is scheduled to begin in 2027, with an option for automatic renewal for an additional five years based on performance criteria, according to a press release Wednesday. The deal includes beers named after Carlsberg, along with Carlsberg Elephant, 1664 and Kronenbourg 1664 Blanc.
Tilray, one of the largest U.S. craft brewers, is positioning the deal as a way to expand Carlsberg’s U.S. market share and attract consumer interest in premium and imported beers. Declining beer consumption and a halt in craft sales have put pressure on spirits producers’ profits, but Tilray still sees opportunity in the premium segment.
“Beer is here to stay, and this agreement strengthens our strategy to partner with the best brands in the industry and maximize the value of our beverage business,” Irwin Simon, CEO of Tilray Brands, said in a statement.
Tilray’s beverage portfolio includes craft beer brands Shock Top, Terrapin Beer and Sweetwater Brewery. In 2023 and 2024, 12 brands were acquired, including 8 brands. From Anheuser-Busch and 4 from Molson Coors.
Expanding the beer portfolio provides some protection from regulatory uncertainty regarding hemp-derived THC beverages. Tilray currently holds a 60% share of the THC beverage market in North America. The segment is showing growth. Despite a pending ban in the United States.
in Tilray’s latest earnings reportNet revenue increased 3% to $217.5 million. Cannabis sales increased 3% to $67.5 million, while beverage net revenue decreased 20% year-over-year to $50.1 million.
