Bud Light maker Anheuser-Busch sells 8 brands to cannabis company
ST. LOUIS (KMOV/Gray News) – Bud Light parent company Anheuser-Busch is selling off eight of its beer and beverage brands.
According to a news release, Anheuser-Busch is selling the eight brands to Tilray Brands, a cannabis-lifestyle and consumer packaged goods company.
Tilray Brands made the announcement Monday.
The eight brands involved in the sale include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.
The acquisition will make Tilray the fifth-largest craft beer business in the United States, up from the ninth largest, according to the company.
The transaction is expected to close sometime in 2023.
Copyright 2023 KMOV via Gray Media Group, Inc. All rights reserved.