This article was originally published on Cannabis.net and appears here with permission.
In December 2021, Tilray (NASDAQ:TLRY) made headlines by purchasing Breckenridge Distillery, a Colorado-based distiller, in a large deal valued at $102.9 million with the intentions of infusing whiskey with cannabis.
“Tilray’s strength lies in our ability to identify and significantly expand leading CPG lifestyle brands that resonate powerfully with consumers. Breckenridge Distillery is an iconic addition to our platform in this respect based on its portfolio of award-winning spirits, passionate consumer engagement, and a strong sales and distribution network,” explains Tilray CEO and chairman, Irwin D Simon.
“We see tremendous potential for Breckenridge and our existing Sweetwater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment,” he adds in a press release.
“More generally, the Breckenridge Distillery transaction is consistent with Tilray’s strategy of leveraging our growing portfolio of US CPG brands to launch THC-based product adjacencies upon federal legalization in the US. These significant, diversified revenue streams are key to delivering on our ultimate goal of industry leadership with $4 billion in revenue by the end of fiscal year 2024.”
Breckenridge was founded by Bryan Nolt in 2008; they currently have an impressive portfolio made up not just of Bourbon…
Original Author Link click here to read complete story..
This article was originally published on Cannabis.net and appears here with permission.
In December 2021, Tilray (NASDAQ:TLRY) made headlines by purchasing Breckenridge Distillery, a Colorado-based distiller, in a large deal valued at $102.9 million with the intentions of infusing whiskey with cannabis.
“Tilray’s strength lies in our ability to identify and significantly expand leading CPG lifestyle brands that resonate powerfully with consumers. Breckenridge Distillery is an iconic addition to our platform in this respect based on its portfolio of award-winning spirits, passionate consumer engagement, and a strong sales and distribution network,” explains Tilray CEO and chairman, Irwin D Simon.
“We see tremendous potential for Breckenridge and our existing Sweetwater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment,” he adds in a press release.
“More generally, the Breckenridge Distillery transaction is consistent with Tilray’s strategy of leveraging our growing portfolio of US CPG brands to launch THC-based product adjacencies upon federal legalization in the US. These significant, diversified revenue streams are key to delivering on our ultimate goal of industry leadership with $4 billion in revenue by the end of fiscal year 2024.”
Breckenridge was founded by Bryan Nolt in 2008; they currently have an impressive portfolio made up not just of Bourbon…
