(NEW YORK,NY) — Tilray Manufacturers, Inc. ( “Tilray Manufacturers” or the “Firm”) (NASDAQ | TSX: TLRY), as we speak introduced the acquisition of Montauk Brewing Firm (“Montauk Brewing”), the #1 craft brewer in Metro New York. Montauk Brewing is well-known for its beloved product portfolio, premium worth level, and distribution throughout over 6,400 factors of distribution, together with prime nationwide retailers corresponding to Goal, Complete Meals, Dealer Joe’s, Cease & Store, King Kullen, Walmart, 7-Eleven, Costco, BJ’s, and Speedway. The acquisition is predicted to be accretive to the Firm’s adjusted EBITDA.
Montauk Brewing joins Tilray’s rising U.S. beverage-alcohol section, which already consists of SweetWater Brewing Firm, the tenth largest craft brewer within the nation with distribution throughout greater than 40 states, the Alpine and Inexperienced Flash iconic Southern California manufacturers, and its main way of life bourbon and spirits model, Breckenridge Distillery. To totally optimize the worth and power of its U.S. craft beer portfolio, Tilray additionally introduced as we speak that it has appointed veteran beer and beverage trade government Ty H. Gilmore as President of Tilray’s U.S. beer enterprise, a newly created place.
Irwin D. Simon, Chairman and CEO, mentioned, “Tilray Manufacturers continues to strengthen our U.S. footprint and operations by means of investments in and rising our portfolio of main way of life CPG manufacturers that resonate powerfully with customers. Montauk Brewing is an iconic model with main market share and distribution within the northeast. Tilray Manufacturers intends to leverage SweetWater’s present nationwide infrastructure and Montauk Brewing’s northeast affect to considerably broaden our distribution community and drive worthwhile progress in our beverage-alcohol section. This distribution community is a part of Tilray’s technique to leverage our rising portfolio of U.S. CPG manufacturers and finally to launch THC-based product adjacencies upon federal legalization within the U.S.”
Mr. Simon continued, “We’re excited to welcome Montauk Brewing’s founders Vaughan Cutillo and Eric Moss, in addition to Terry Hopper, Montauk Brewing’s Normal Supervisor, to the Tilray Manufacturers household and I sit up for working intently with Ty Gilmore to maximise the efficiency of our enormously highly effective craft and way of life beverage model portfolio.”
Strategic and Monetary Advantages: Montauk Brewing joins SweetWater, Inexperienced Flash, and Alpine manufacturers because the cornerstones of Tilray’s coast to coast craft beer section and additional strengthens the Firm’s web income. Along with buying a powerful model and accretive enterprise, the acquisition is predicted to ship extra scale in Tilray’s craft beer section and positions Tilray Manufacturers with a stronger footprint within the northeast rounding out our footprint throughout the U.S. market.
Expands Tilray’s Industrial Alternatives within the U.S.: Upon federal legalization within the U.S., Tilray plans to take full benefit of its strategic infrastructure, operations and shopper loyal manufacturers throughout beer, spirits, and snack-food classes to parlay into THC-based merchandise and additional broaden its industrial alternatives.
Alternative for Accelerated Progress of Montauk Brewing Firm: Montauk Brewing has huge potential to broaden its buyer base and develop all through the U.S. as a real nationwide model. Tilray Manufacturers intends to leverage SweetWater’s present nationwide infrastructure to speed up Montauk Brewing’s distribution community and income progress.
Appointment of Ty H. Gilmore as President of U.S. Beer Enterprise: Gilmore joins Tilray from Glazer’s Beer and Beverage, the place he had served since 2020 as government vp, overseeing gross sales, advertising and operations throughout 11 distributors within the south. Previous to that, he spent nearly all of his almost three-decade profession at Diageo, in positions of accelerating seniority together with seven years main nationwide accounts.
As Tilray Manufacturers continues to speed up its strategic progress alternatives, we ask all stockholders to take part within the Firm’s Annual Assembly of Stockholders to be held on November 22, 2022. Tilray urges stockholders to vote “FOR” all key proposals to make sure finest company governance practices and assist the Firm defend the affect of its stockholders. Your assist is essential, regardless of what number of or how few shares you personal.
In case you have any questions, or want any help in voting your shares, please contact Morrow Sodali LLC at (800) 449-0910 toll-free within the U.S. and Canada or (203) 658-9400 or by electronic mail at [email protected].
Advisors
Arlington Capital Advisors served as unique monetary advisor to Montauk Brewing Firm.
About Tilray Manufacturers
Tilray Manufacturers, Inc. (Nasdaq: TLRY; TSX: TLRY), is a number one world hashish way of life and shopper packaged items firm with operations in Canada, the US, Europe, Australia, and Latin America that’s altering individuals’s lives for the higher – one particular person at a time – by inspiring and empowering a worldwide neighborhood to stay their perfect life, enhanced by moments of connection and wellbeing. Tilray’s mission is to be essentially the most accountable, trusted and market main hashish shopper merchandise firm on the planet with a portfolio of progressive, high-quality and beloved manufacturers that tackle the wants of the customers, prospects and sufferers we serve. A pioneer in hashish analysis, cultivation, and distribution, Tilray’s unprecedented manufacturing platform helps over 20 manufacturers in over 20 international locations, together with complete hashish choices, hemp-based meals, and craft drinks.
For extra data on how we open a world of wellbeing, go to www.Tilray.com and observe @tilray on all social platforms.
