Tilray Brands has completed the acquisition of several assets from BrewDog’s global platform for £33 million. The deal includes BrewDog’s global brand and related intellectual property, its UK brewing operations, and eleven brewpubs located across the United Kingdom and Ireland. Tilray said it is also separately negotiating to acquire certain BrewDog assets in the United States and Australia.
Founded in 2007, BrewDog grew into one of the largest independent craft beer brands in the UK. Its portfolio includes beers such as Punk IPA, Hazy Jane, Lost Lager and Wingman, spanning craft, premium, and low- and no-alcohol categories. The company expanded internationally through breweries, brewpubs and partnerships, building brand recognition beyond the UK.
Tilray said the acquisition supports its strategy to expand its global beverage business. The company has built a portfolio that includes craft beer, spirits, energy drinks, water and other beverage categories. According to Tilray, adding BrewDog provides brewing capacity outside the United States, an established distribution network, and a hospitality presence in the UK and certain international markets.
Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands, said the company plans to focus on BrewDog’s brewing operations and invest with the aim of returning the business to profitable growth. He also noted Tilray’s prior experience operating consumer packaged goods businesses in the UK.
Tilray expects its global beverage platform to grow to approximately $500 million in annual revenue following the acquisition. On a combined basis, the company said its diversified global business is projected to reach about $1.2 billion in annualized revenue.
The transaction covers eleven brewpubs in Birmingham, Canary Wharf, Dogtap Ellon, Dublin, Edinburgh DogHouse, Lothian Road, Manchester, Paddington, Seven Dials, Tower Hill and Waterloo. The brewing and related operating assets are expected to generate around $200 million in annual net revenue and adjusted EBITDA of approximately $6 million to $8 million. Tilray said the acquired business is expected to become cash flow positive beginning in fiscal 2027 as integration and operational initiatives are implemented.