View source for Tilray

{{short description|Canadian pharmaceuticals and cannabis company}}
{{Use mdy dates|date=December 2020}}
{{Infobox company
| name = Tilray Brands, Inc.
| logo = Tilray Brands Logo.png
| type = [[Public company|Public]]
| traded_as = {{NASDAQ|TLRY}}<br>{{TSX|TLRY}}
| industry = Cannabis, Pharmaceutical
| fate =
| predecessor =
| successor =
| founded = {{start date and age|2013}}
| founder = [[Brendan Kennedy (businessman)|Brendan Kennedy]]
| key_people = Irwin D. Simon ([[Chief executive officer|CEO]])
| defunct =
| hq_location_city = New York City
| hq_location_country = United States
| area_served =
| products =
| owner =
| revenue = {{decrease}} US$627 million (2023)
| net_income = {{decrease}} US$-1.44 billion (2023)
| num_employees = 1,600
| num_employees_year = 2023
| parent =
| website = {{URL|tilray.com}}
}}
'''Tilray Brands, Inc.''' is an American [[pharmaceutical]], [[cannabis]]-lifestyle and consumer packaged goods company, incorporated in the United States, headquartered in New York City.<ref>{{Cite news |title=Tilray Focuses on Brand Growth in Crowded Canada Pot Market |url=https://www.bloomberg.com/news/articles/2022-01-10/tilray-focuses-on-brand-growth-in-saturated-canadian-pot-market |access-date=2022-03-01 |newspaper=Bloomberg|date=January 10, 2022 }}</ref><ref>{{Cite web |title=Tilray Brands, Inc. Class 2 Common Stock (TLRY) |url=https://www.nasdaq.com/market-activity/stocks/tlry}}</ref> Tilray also has operations in Canada, Australia, New Zealand,<ref>{{cite web|url=https://smallcappower.com/analyst-articles/tilray-stock/|title=Tilray Stands Out with its Global Supply Agreements|last=SmallCapPower|date=8 August 2018|publisher=}}</ref><ref>{{cite web|url=https://mjbizdaily.com/tilray-exports-medical-cannabis-new-zealand-nationwide-distribution/|title=Tilray exports medical cannabis to New Zealand for national dispersal|date=2 October 2017|website=Marijuana Business Daily}}</ref> and Latin America,<ref>{{cite web |last= |first= |date=3 December 2018 |title=Tilray sets up Latin American subsidiary |url=https://seekingalpha.com/news/3413786-tilray-sets-latin-american-subsidiary |website=Seeking Alpha}}</ref> with growing facilities in Germany and Portugal.<ref>{{cite web |last1=Commodities |last2=Agriculture |date=7 September 2017 |title=Tilray to build $30 million EU cannabis production operation in Portugal - Financial Post |url=https://business.financialpost.com/commodities/agriculture/tilray-to-build-30-million-eu-cannabis-production-operation-in-portugal |publisher=}}</ref><ref>{{Cite web |last=Owusu |first=Tony |title=Tilray Stock: As Germany Closes in on Legal Cannabis, Rest of Europe Might Follow |url=https://www.thestreet.com/investing/cannabis/tilray-germany-moves-closer-to-legal-pot-europe-will-follow |access-date=2022-03-01 |website=TheStreet |date=January 12, 2022 |language=en-us}}</ref>
In December 2020, the company announced a [[Mergers and acquisitions|merger]] with [[Aphria (company)|Aphria]], and will operate under the Tilray name and its [[ticker symbol]] on [[NASDAQ]]<ref name="kary">{{Cite web |last=Kary |first=Tiffany |date=2020-12-15 |title=Aphria, Tilray combine to create biggest cannabis company|url=https://www.bloomberg.com/news/articles/2020-12-16/aphria-tilray-announce-deal-to-create-biggest-cannabis-company |access-date=2021-01-15 |publisher=Bloomberg}}</ref> and the [[Toronto Stock Exchange]].<ref>{{cite press release |url= https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/tilray-commences-trading-on-the-toronto-stock-exchange-under-symbol-tlry |title=Tilray Commences Trading on the Toronto Stock Exchange Under Symbol "TLRY" |agency=[[Business Wire]] |publisher=[[National Post]] |date=May 5, 2021}}</ref>
Tilray also owns several breweries and is the 5th largest craft beer company in the US.
== History ==
Founded in 2014, Tilray was originally incorporated under the umbrella of Seattle-based [[Privateer Holdings]] and was one of Canada's first licensed producers.<ref name=":2">{{Cite web |title=Tilray's Takeover |url=https://www.cannabisbusinesstimes.com/article/tilray-cannabis-canada-international/ |access-date=2022-03-04 |website=Cannabis Business Times |language=en}}</ref><ref name="hall">{{cite news |author1=Derek Hall |date=20 June 2018 |title=Seattle's Privateer launches $100M IPO for its Canadian marijuana company |work=Seattle Times |url=https://www.seattletimes.com/business/seattles-privateer-launches-100m-ipo-for-its-canadian-marijuana-company/ |access-date=15 January 2021}}</ref> At the end of 2014, it secured the first institutional investment in the cannabis industry from Founders Fund, a San Francisco-based venture capital fund.<ref name=":2" /> In 2016, it became the first cannabis company to conduct a clinical trial approved by Health Canada.<ref name=":2" /> The trial evaluated the therapeutic potential of medical cannabis.<ref name=":2" /> In January 2017, Tilray was certified for [[good manufacturing practice]]s.<ref name="sec">{{cite web |title=Tilray, Inc. |url=https://www.sec.gov/Archives/edgar/data/1731348/000156459019009157/tlry-10k_20181231.htm |publisher=US Securities and Exchange Commission |access-date=15 January 2021 |date=31 December 2018}}</ref>
By October 2018, the company had raised $1.1 billion.<ref name=":2" /> In July 2018, it became the first cannabis company to trade publicly on a major U.S. stock exchange,<ref>{{cite web |last=Cherney |first=Max A. |title=Tilray IPO: Five things to know about the first pot company to go public on Nasdaq |url=https://www.marketwatch.com/story/tilray-ipo-five-things-to-know-about-the-first-pot-company-to-go-public-on-nasdaq-2018-07-10 |website=MarketWatch}}</ref> opening on the [[NASDAQ]] exchange at a price of $17 per share, which increased in September 2018 to $214 per share, and then descended to $29 per share by August 2019.<ref>{{Cite news |title=Tilray shows the highs, lows of investing in pot |language=en |url=https://www.cbsnews.com/news/tilray-stock-price-soars-after-canada-cannabis-company-gets-ok-to-import-medical-pot-into-us/ |access-date=2018-09-19}}</ref><ref>{{Cite news |title=How the Canadian cannabis company Tilray became worth more than American Airlines |work=Vox |url=https://www.vox.com/business-and-finance/2018/9/19/17879830/tilray-stock-cannabis-peter-thiel-short-squeeze |access-date=2018-09-19}}</ref> The [[initial public offering|IPO]] raised {{US$|153}} million.<ref name="cbc2018">{{cite news |date=19 July 2018 |title=Shares of pot company Tilray surge in first day of trading on Nasdaq |work=CBC |url=https://www.cbc.ca/news/business/tilray-ipo-1.4753331 |access-date=15 January 2021}}</ref>
In September 2018, Tilray became the first Canadian cannabis company to legally export medical cannabis to the U.S. for a [[clinical trial]].<ref>{{cite web|url=https://globalnews.ca/news/4460789/tilray-export-medical-cannabis-u-s-clinical-trials/|title=Canadian producer Tilray to export medical cannabis to U.S. for clinical trial - Globalnews.ca|date=18 September 2018|website=globalnews.ca}}</ref> In December 2018, the company signed a deal with [[Novartis]] subsidiary [[Sandoz]] to sell, distribute and co-brand Tilray's non-smokeable/non-combustible [[medical cannabis]] products in legal markets worldwide.<ref>Borchard D (Dec. 2018). [https://www.greenmarketreport.com/tilray-signs-deal-with-big-pharma-company-sandoz/ "Tilray Signs Deal With Big Pharma Company Sandoz"]. ''Green Market Report''. Retrieved 2018-12-18.</ref> On June 19, 2018, Tilray announced the launch of High Park Company which operates in the adult recreational cannabis market to establish unique adult-use brands in Canada.<ref>{{Cite web|url=https://www.tilray.ca/en/blog/post/tilray-launches-high-park-company-to-produce-and-distribute-adult-use-cannabis-in-canada/|title=Tilray Launches High Park Company to Produce and Distribute Adult-Use Cannabis in Canada|website=www.tilray.ca|language=en|access-date=2019-01-18}}</ref>
Since September 2022, Tilray has been licensed by the Polish and Italian Ministries of Health to import and distribute THC25 medical cannabis throughout Poland and Italy.<ref>{{cite press release | url=https://www.globenewswire.com/news-release/2022/09/22/2520876/0/en/Tilray-Medical-Receives-Approval-to-Extend-Market-Authorization-in-Italy.html | title=Tilray Medical Receives Approval to Extend Market Authorization in Italy | date=September 22, 2022 }}</ref>
In August 2023, Tilray acquired eight beverage brands in addition to the breweries of the brands from Anheuser-Busch for $85 million.<ref>{{Cite web |last=Lindenberger |first=Hudson |title=Tilray Brands Deal With Anheuser-Busch InBev Sets Them Firmly On The National Stage |url=https://www.forbes.com/sites/hudsonlindenberger/2023/08/08/tilray-brands-deal-with-anheuser-busch-inbev-sets-them-firmly-on-the-national-stage/ |access-date=2024-06-11 |website=Forbes |language=en}}</ref>
== Strategic partnerships and acquisitions ==
In 2018, Tilray announced it had entered into global alliance with Sandoz, a division of Novartis to co-brand and distribute non-combustible medical cannabis products in global markets where it is legally authorized. [[The Globe and Mail]] dubbed this partnership as ‘big-pharma’s first foray into cannabis’.<ref>{{Cite web|url=https://business.financialpost.com/cannabis/big-pharmas-first-foray-into-cannabis-arrives-with-sandoz-tilray-deal|title=Big Pharma's first foray into cannabis arrives with Sandoz-Tilray deal {{!}} Financial Post|last=Cannabis|date=2018-03-19|language=en-CA|access-date=2019-02-12}}</ref>&nbsp;
Also in 2018, Tilray announced a $100-million joint venture with the world's largest brewer, [[Anheuser-Busch InBev|AbInBev]] to research non-alcohol [[tetrahydrocannabinol]] (THC) and [[cannabidiol]] (CBD)-infused beverages, through their respective subsidiaries, [[Labatt Breweries]] and High Park Company.<ref>{{Cite news|url=https://www.reuters.com/article/us-ab-inbev-tilray-beverages-idUSKCN1OI2M4|title=Brewer AB InBev partners with Tilray to tap cannabis drink market|date=2018-12-19|work=Reuters|access-date=2019-02-12|language=en}}</ref>
In 2019, Tilray signed a $250 million revenue-sharing deal with U.S. based brand company, [[Authentic Brands Group]], to leverage ABG brand names, such as [[Juicy Couture]], [[Greg Norman]], and [[Nine West]] to create cannabis products. ABG has a portfolio of over 50 brands.<ref>{{Cite web|url=https://business.financialpost.com/cannabis/tilray-signs-creative-250-million-revenue-sharing-deal-with-u-s-brand-powerhouse-abg|title=Tilray signs creative $250-million revenue-sharing deal with U.S. brand powerhouse ABG {{!}} Financial Post|last=Cannabis|date=2019-01-15|language=en-CA|access-date=2019-02-12}}</ref>
In February 2019, Tilray acquired Manitoba Harvest, a hemp foods manufacturer, for $317 million from Compass Diversified Holdings.<ref name=":0">{{Cite web|url=https://www.forbes.com/sites/bethkaiserman/2019/02/24/tilray-manitoba-harvest/|title=Tilray Eyes CBD Food And Drink Market With Manitoba Harvest Acquisition|last=Kaiserman|first=Beth|website=Forbes|language=en|access-date=2019-07-26}}</ref> The acquisition allowed Tilray to use Manitoba Harvest's retail distribution network to enter the U.S. CBD market.<ref>{{Cite news|url=https://www.winnipegfreepress.com/business/manitoba-harvest-enters-wild-wild-west-cbd-market-in-us-510656912.html|title=Manitoba Harvest enters 'wild, wild west' CBD market in U.S.|last=Israel|first=Solomon|date=2019-05-31|work=Winnipeg Free Press|access-date=2019-07-26}}</ref> Manitoba Harvest's products are available in approximately 13,000 U.S. stores and 3,600 in Canada.<ref name=":0" />
Also in 2019, Tilray entered into an agreement with Natura Naturals Holdings which owns 155,000 square feet of licensed cultivation [[greenhouse]]s in [[Leamington, Ontario]].<ref>{{Cite web|url=https://ir.tilray.com/news-releases/news-release-details/tilrayr-acquire-natura-naturals-holdings-inc-c70-million-subject|title=Tilray to Acquire Natura Naturals Holdings Inc. for up to C$70 Million Subject to Performance Milestones|website=Tilray|language=en|access-date=2019-02-27}}</ref> The acquisition doubled the cultivation ability of the company in Canada.<ref>{{Cite web|url=https://www.ctvnews.ca/business/tilray-to-buy-natura-for-up-to-70m-doubling-canadian-cannabis-growing-capacity-1.4263988|title=Tilray to buy Natura for up to $70M, doubling Canadian cannabis growing capacity {{!}} CTV News|website=www.ctvnews.ca|date=January 22, 2019 |access-date=2019-04-01}}</ref> In May 2020, Tilray announced closure of the High Park Gardens site (previously Natura Naturals) for [[cost reduction]]s.<ref>{{Cite web|url=https://windsorite.ca/2020/05/high-park-gardens-licensed-cannabis-greenhouse-in-leamington-to-close/|title=High Park Gardens Licensed Cannabis Greenhouse In Leamington To Close {{!}} windsoriteDOTcaNews|website=windsorite.ca|access-date=2020-07-28}}</ref>
In July 2019, Tilray acquired U.K.-based Smith & Sinclair to develop CBD-infused edibles.<ref name=":1">{{Cite web|url=https://www.cnbc.com/2019/07/23/tilray-acquires-smith-sinclair-to-develop-cbd-edible-line-in-us-canada-and-europe.html|title=Tilray acquires boozy candy company Smith & Sinclair to develop CBD edibles|last=LaVito|first=Angelica|date=2019-07-23|website=CNBC|language=en|access-date=2019-07-26}}</ref> In August 2019, Tilray acquired Alberta cannabis retailer, Four20.<ref>{{Cite news|url=https://www.bnnbloomberg.ca/tilray-signs-deal-to-acquire-alberta-cannabis-retailer-four20-1.1308603|title=Tilray signs deal to acquire Alberta cannabis retailer Four20 |work=BNN Bloomberg|publisher=The Canadian Press|date=2019-08-29|access-date=2020-01-19}}</ref>
On April 10, 2023, Tilray announced an agreement to acquire Hexo Corp. for approximately US$56 million. Hexo shareholders will receive 0.4352 of a share of Tilray common stock in exchange for each share held.<ref>{{Cite web |title=Tilray Brands Reports Third Quarter Fiscal Year 2023 Financial Results and Announces Accretive Acquisition of 100% of HEXO Corp. |url=https://finance.yahoo.com/news/tilray-brands-reports-third-quarter-201500959.html |access-date=2023-04-10 |website=Yahoo Finance |date=April 10, 2023 |language=en-CA}}</ref>
==Merger with Aphria==
On 15 December 2020, Aphria conducted a [[reverse takeover|reverse acquisition]] of Tilray, creating the largest global cannabis company by revenue and geographic reach.<ref name=":2" /><ref name=kary/> The [[chief executive officer]] (CEO) of Aphria, Irwin D. Simon, stated that the merger strategy was to capture Tilray's business assets and public trading exposure in the United States and its [[free trade]] abilities in Europe, enabling potential for becoming a global operation.<ref name=kary/> Irwin was named as CEO and [[chairperson|chairman of the board]] for the merged company, and Tilray CEO, Brendan Kennedy, will be a member of the [[board of directors]].<ref name=kary/> The merged companies will keep Tilray's name and trade under the Tilray ticker symbol, TLRY, on the NASDAQ exchange.<ref name=kary/>
By combining assets, the new Tilray company will develop craft beer and cannabis-infused beverages in partnership with [[Anheuser-Busch InBev]], and have branded [[hemp]] and [[cannabidiol]] products.<ref name=kary/> According to one source, the world market potential for cannabis products is $94 billion by 2025.<ref name=kary/>
==Brewery ownership==
Tilray also owns several breweries: [[Montauk Brewing Company]], [[Good Supply Beer]], [[10 Barrel Brewing Company]], [[Square Mile Cider Company]], and [[Truss Beverage Co.]]<ref>{{citation|title=Tilray Brands Announces Agreement to Acquire Eight Beer & Beverage Brands From Anheuser-Busch, Fueling Tilray's Future in the U.S. Craft Beer Industry|date=August 7, 2023|publisher=[[Globe Newswire]]|url=https://www.globenewswire.com/en/news-release/2023/08/07/2720135/0/en/Tilray-Brands-Announces-Agreement-to-Acquire-Eight-Beer-Beverage-Brands-From-Anheuser-Busch-Fueling-Tilray-s-Future-in-the-U-S-Craft-Beer-Industry.html}}</ref> Tilray's beer division ranked No. 9 on the Brewers Association's annual report of the US nation's top craft companies based on beer sales volume in 2022.<ref>{{Cite web|url=https://mjbizdaily.com/cannabis-producer-tilray-makes-us-list-of-largest-craft-brewers/|title=Cannabis producer Tilray makes US list of largest craft brewers}}</ref><ref>{{Cite web |last=Association |first=Brewers |date=2023-04-18 |title=Brewers Association Releases Annual Craft Brewing Industry Production Report and Top 50 Producing Craft Brewing Companies for 2022 |url=https://www.brewersassociation.org/press-releases/brewers-association-releases-annual-craft-brewing-industry-production-report-and-top-50-producing-craft-brewing-companies-for-2022/ |access-date=2023-08-09 |website=Brewers Association |language=en-US}}</ref><ref>{{cite press release | url=https://www.globenewswire.com/en/news-release/2023/08/18/2727868/0/en/Tilray-Brands-Announces-Acquisition-of-Truss-Beverage-Co.html | title=Tilray Brands Announces Acquisition of Truss Beverage Co.™ | date=August 18, 2023 }}</ref>
===Alpine Beer Company===
{{main|Alpine Beer Company}}
Founded in 1999 in [[Alpine, California]], the Alpine Beer Company produced award-winning [[sour beer]]s.<ref>{{Cite news| title = Sour beer? Pucker up| newspaper=[[Los Angeles Times]]| date = July 1, 2009| accessdate = 2009-08-31| url = http://www.latimes.com/features/food/la-fo-sourbeer1-2009jul01,0,1246446.story}}</ref><ref>{{Cite web|url=https://www.sandiegouniontribune.com/|title=San Diego Union-Tribune|date=October 1, 2024|website=San Diego Union-Tribune}}</ref> The company would be acquired by the [[Green Flash Brewing Company]] in 2014 and continued existence as a brand.<ref name="Green Flash acquires Alpine,">Peter Rowe, [http://www.sandiegouniontribune.com/news/2014/nov/10/green-flash-alpine-merge/ "Green Flash acquires Alpine,"] ''[[San Diego Union-Tribune]]'', November 10, 2014.</ref>
===Blue Point Brewing Company===
{{main|Blue Point Brewing Company}}
Founded in a former [[Commercial production of ice|ice factory]] in 1998 to fill the niche of a [[Long Island]] focused [[Microbrewery]].<ref>{{cite web |title=LARGE CRAFT BREWERY: Blue Point Brewing Co. |url=https://longisland.beer/places/blue-point-brewing-co/ |url-status=live |archive-url=https://web.archive.org/web/20231210225240/https://longisland.beer/places/blue-point-brewing-co/ |archive-date=10 December 2023 |accessdate=22 May 2012 |publisher=Long Island Beer}}</ref> The company's flagship "Toasted Lager" won a gold medal at the 2006 [[World Beer Cup]] in the American-Style [[Amber Lager]] category.<ref>{{cite web|title = Past Winners Lists - World Beer Cup|url = http://www.worldbeercup.org/winners/past-winners-lists/|website = World Beer Cup|accessdate = 2015-12-24|language = en-US}}</ref> The company distributed their beer to 19 states and [[Washington D.C.]] before being purchased by Anheuser-Busch InBev on February 5, 2014, for nearly $24 million. Citing financial shortfall in part due to the [[2023 Bud Light boycott]], Anheuser-Busch sold the brand to Tilray in August 2023.<ref name="2023 Sale">{{cite news |last1=Freund |first1=Janet |title=Tilray to Buy Eight Beverage Brands for $85 Million From AB InBev |url=https://www.bloomberg.com/news/articles/2023-08-08/tilray-surges-on-plan-to-buy-eight-beverage-brands-from-ab-inbev |website=[[Bloomberg News]] |date=August 8, 2023 |access-date=22 August 2023}}</ref>
===Breckenridge Brewery===
{{main|Breckenridge Brewery}}
Founded in [[Breckenridge, Colorado]] in 1990 as the state's third craft brewery before moving most of their production to [[Denver]] in 1992.<ref>Elizabeth J. Goodgold, [https://www.entrepreneur.com/article/58014 "Brand-Spankin' Brew,"] ''[[Entrepreneur (magazine)|Entrepreneur]]'', January 2003.</ref><ref name="lwilliams">Lee Williams, [http://drinks.seriouseats.com/2012/03/behind-the-scenes-at-breckenridge-brewing-co-denver-colorado-brewery-tour.html "Behind the Scenes at Breckenridge Brewing Co., Denver, Colorado,"] [[Serious Eats]], May 13, 2012.</ref> In 2010 the company merged with the Wynkoop Brewing Company and purchased the Phantom Canyon Brewing company to become the Breckenridge-Wynkoop LLC.<ref>Jonathan Shikes, [http://www.westword.com/restaurants/breckenridge-brewerys-todd-usry-explains-the-sale-to-anheuser-busch-inbev-7449442 "Breckenridge Brewery's Todd Usry Explains the Sale to Anheuser-Busch InBev,"] ''[[Westword]]'', December 23, 2015.</ref> In 2015 they moved to a new facility in [[Littleton, Colorado]] and was producing 70,000 barrels of beer per year.<ref>Clayton Woullard, [http://www.denverpost.com/2014/11/25/littleton-hopes-new-breckenridge-brewery-becomes-tourist-draw/ "Littleton hopes new Breckenridge Brewery becomes tourist draw,"] ''Denver Post'', November 25, 2014.</ref> On December 22, 2015, Anheuser-Busch InBev announced its intent to purchase just Breckenridge Brewery from Breckenridge-Wynkoop LLC, splitting the companies with the purchase finalizing in 2016.<ref>[https://www.nytimes.com/2015/12/24/business/anheuser-busch-inbev-buys-large-colorado-craft-brewery.html "Anheuser-Busch InBev Buys Large Colorado Craft Beer Brewery,"] ''[[The New York Times]]'', December 23, 2015.</ref>  Anheuser-Busch sold the brand to Tilray in August 2023.<ref name="2023 Sale" />
===Green Flash Brewing Company===
{{main|Green Flash Brewing Company}}
Founded in 2002 in [[Vista, California]] before moving to [[San Diego]] in 2011.<ref>Lou Hirsh, [http://www.sdbj.com/news/2015/sep/03/green-flash-brewing-names-ross-coo/ "Green Flash Brewing Names Ross as COO,"] ''San Diego Business Journal'', September 3, 2015.</ref> The company operated a 44,000 barrel per year facility in San Diego in 2011, and a 100,000 barrel per year facility in [[Virginia Beach, Virginia]] in 2013.<ref>{{cite web|author=Peter Rowe|date=May 3, 2011|title=Prepare to see more -- much more -- Green Flash|publisher=Sign On San Diego|url=http://www.signonsandiego.com/news/2011/may/03/prepare-see-more-much-more-green-flash/|accessdate=May 4, 2011}}</ref><ref>Greg Kitsock, [https://www.washingtonpost.com/news/going-out-guide/wp/2013/03/14/green-flash-announces-east-coast-brewery-in-virginia-beach/ "Green Flash announces East Coast brewery in Virginia Beach,"] ''[[Washington Post]]'', March 14, 2013.</ref> By 2014 their beer was being sold in all 50 states, as well as internationally and they purchased the [[Alpine Beer Company]].<ref>{{cite web|url=http://beerpulse.com/2014/07/green-flash-st-feuillien-reach-deal-to-have-west-coast-ipa-brewed-sold-in-europe-3359/|title=Green Flash, St-Feuillien reach deal to have West Coast IPA brewed, sold in Europe - BeerPulse|date=July 21, 2014 |publisher=}}</ref><ref name="Green Flash acquires Alpine,"/> The company peaked in 2016 when it was the 37th largest producer of beer in the United States, afterwards the company began a rapid decline due to the rise of rival craft beer producers.<ref>{{cite news|url=http://sdbj.com/news/2017/mar/15/only-one-sd-brewery-makes-top-50-list/|title=Three S.D. County Breweries Make Top 50 List|last=Connors|first=Tarcy|date=March 15, 2017|work=San Diego Business Journal|accessdate=16 March 2017}}</ref> In 2018 they cut distribution internationally and to 42 states and laid off 15% of their workforce and defaulted on their loans to construct the Virginia Beach facility.<ref>{{cite news|last1=Kendall|first1=Justin|title=Green Flash Pulls Distribution From 32 States, Eliminates 15 Percent of Workforce |url=https://www.brewbound.com/news/green-flash-pulls-distribution-33-states-eliminates-15-percent-workforce|work=Brewbound|date=January 15, 2018}}</ref><ref>{{cite news|last1=Rowe|first1=Peter|title=Beer bust: Green Flash closes Virginia Beach brewery|url=http://www.sandiegouniontribune.com/entertainment/beer/sd-me-green-flash-20180326-story.html|work=San Diego Union Tribune|date=March 26, 2018}}</ref> The company would be sold to a group of private investors by the end of the year, who would sell the company to Tilray in 2020.<ref>{{cite web | url=https://www.brewbound.com/news/tilray-acquired-green-flash-and-alpine-for-5-1m-dissolves-anheuser-busch-inbev-jv/ | title=Tilray Acquired Green Flash and Alpine for $5.1M; Dissolves Anheuser-Busch InBev JV | date=January 10, 2022 }}</ref>
===Redhook Ale Brewery===
{{main|Redhook Ale Brewery}}
Founded in [[Seattle]] in 1981, Redhook specializes in the production of [[India pale ale]]s.<ref>{{Cite web|url=http://grahambabaarchitects.com/redhook-brewlab|title = Redhook Brewlab}}</ref> A founding member of the [[Craft Brew Alliance]], the company's distribution rights were bought by [[Cisco Brewers]] in 2018.<ref>{{Cite news|url=http://www.seacoastonline.com/news/20180615/redhook-being-replaced-by-cisco-brewers-at-pease|title=Redhook being replaced by Cisco Brewers at Pease|last=Dandurant|first=Karen|date=June 15, 2018|work=seacoastonline.com|access-date=2018-10-11|language=en|url-status=dead|archive-url=https://web.archive.org/web/20210418084303/https://www.seacoastonline.com/news/20180615/redhook-being-replaced-by-cisco-brewers-at-pease|archive-date=2021-04-18}}</ref> In 2019 the Craft Brew Alliance, and its properties, were acquired by Anheuser-Busch InBev with Redhook operating as a brand.<ref name="2019 Sale">{{cite news |url=https://www.oregonlive.com/business/2019/11/anheuser-busch-buys-total-control-of-portlands-craft-brew-alliance-for-220-million.html |first=Mike |last=Rogoway |title=Anheuser-Busch buys total control of Portland's Craft Brew Alliance for $220 million |work=The Oregonian |date=November 11, 2019 |access-date=November 11, 2019}}</ref> Anheuser-Busch sold the brand to Tilray in August 2023.<ref name="2023 Sale" />
===Shock Top===
{{main|Shock Top}}
A Belgian-Style, spiced [[Wheat beer|Witbeer]] brand introduced as a seasonal beer by [[Anheuser-Busch]] in February 2006, however, the beer's popularity quickly grew and was used as a rival to [[Molson Coors]]' [[Blue Moon (beer)|Blue Moon]]. The brand entered a decline following a failed rebranding effort in 2017 and, citing financial shortfall in part due to the [[2023 Bud Light boycott]], Anheuser-Busch sold the brand to Tilray in August 2023.<ref name="2023 Sale" />
===SweetWater Brewing Company===
{{main|SweetWater Brewing Company}}
A [[craft brewery]] founded in 1997 by Freddy Bensch and Kevin McNerney in [[Atlanta]], [[Georgia (U.S. state)|Georgia]].<ref>{{cite web|last=Martin|first=Jill|title=Small Beer: US Brewers With Big Passion To Succeed|url=https://www.bbc.co.uk/news/business-22853487|accessdate=13 June 2013|publisher=BBC News|date=12 June 2013}}</ref> SweetWater's beers are [[unpasteurized]] and distribution is limited to select states. SweetWater would be acquired by [[Aphria (company)|Aphria]] In November 2020 for $300 million.<ref>{{Cite web|title=Aphria Inc. Closes Accretive, Strategic Acquisition of Sweetwater Brewing Company|url=https://aphriainc.com/aphria-inc-closes-accretive-strategic-acquisition-of-sweetwater-brewing-company/|access-date=2021-02-07|website=Aphria Inc.|language=en-CA}}</ref> Later, in December 2020, Aphria merged with Tilray bringing SweetWater under Tilray's ownership.<ref name="kary" />
===Widmer Brothers Brewery===
{{main|Widmer Brothers Brewery}}
Founded in 1984 in [[Portland, Oregon]], the company primarily produced [[Hefeweizen]].<ref name="answers.com">{{Cite web|url=https://www.answers.com/redirectSearch?query=widmer-brothers-brewing-company|title=Answers - The Most Trusted Place for Answering Life's Questions|website=Answers}}</ref> In 2007 Widmer  and Redhook announced that they were going to merge to form the Craft Brewers Alliance, which was renamed to the [[Craft Brew Alliance]] in 2012.<ref>{{Cite web|url=http://www.seattlepi.com/business/339489_beer14.html|title=Redhook, Widmer Brothers will merge, but keep brands - seattlepi.com<!-- Bot generated title -->}}</ref>  The goal of which was to offer smaller regional beers a national distribution network. In 2019 Widmer and the whole of the Craft Brew Alliance was bought by Anheuser-Busch InBev, with Widmer operating as a brand.<ref name="2019 Sale" /> Anheuser-Busch sold the brand to Tilray in August 2023.<ref name="2023 Sale" />
==Food and drink==
===HiBall Energy===
HiBall Energy was founded in 2005 by Todd Berardi and was based out of [[San Francisco]]. They produced organic [[energy drink]]s and were purchased by Anheuser-Busch on July 20, 2017, in an effort to diversify into non-alcoholic beverages. Their products were low in sugar, produced with [[fair-trade]] ingredients, and were available at 14,000 locations prior to its acquisition by Anheuser-Busch.<ref>{{cite web |last1=Snider |first1=Mike |title=Anheuser-Busch buys drink maker Hiball Energy |url=https://www.usatoday.com/story/money/business/2017/07/20/anheuser-busch-buys-drink-maker-hiball-energy/495803001/ |website=[[USA Today]] |access-date=9 September 2023}}</ref> On May 19, 2023, Anheuser-Busch announced that they were discontinuing HiBall alongside their [[box wine]] brand [[Babe Wine]], stating that they will be focusing on their "mega brands" instead. This came despite HiBall having a dedicated consumer fan-base that heavily protested the discontinuation. An Anheuser-Busch spokesmen stated that the discontinuation had nothing to do with the [[2023 Bud Light boycott]].<ref>{{cite web |last1=Racz |first1=Eszter |title=Anheuser-Busch InBev discontinues Babe wine, Hiball energy drinks |url=https://www.just-drinks.com/news/anheuser-busch-inbev-discontinues-babe-and-hiball-brands/ |website=just-drinks.com |date=May 19, 2023 |access-date=9 September 2023}}</ref><ref>{{cite web |last1=Baker |first1=Nicolette |title=Anheuser-Busch Discontinues Babe Wine, HiBall Energy Seltzer |url=https://vinepair.com/booze-news/anheuser-busch-discontinues-babe-hiball/ |website=vinepair.com |access-date=9 September 2023}}</ref>  Anheuser-Busch sold the HiBall brand to Tilray alongside seven of their beer brands in August 2023.<ref>{{cite web |last1=Hyman |first1=Julie |last2=Mikulich |first2=Stephanie |title=Tilray stock pops on purchase of eight brands from Anheuser-Busch |url=https://finance.yahoo.com/video/tilray-stock-pops-purchase-eight-141027213.html |website=[[Yahoo! Finance]] |date=August 8, 2023 |access-date=9 September 2023}}</ref>
==Preliminary clinical research ==
In partnership with [[University of Sydney]], [[NSW Government]], Chris O'Brien Lifehouse, Tilray participated in a [[clinical trial]] testing the efficacy and tolerability of medical cannabis as a possible treatment for the [[side effect]]s of [[chemotherapy]].<ref>{{Cite web|url=http://www.mylifehouse.org.au/wp-content/uploads/2016/12/medicinal-cannabis_factsheet-patients.pdf|title=Medicinal Cannabis Factsheet}}</ref> Led by [[The Hospital for Sick Children, Toronto|The Hospital for Sick Children]], in Toronto, Canada, Tilray provided a [[cannabidiol]] (CBD) oil product available in Canada to test the efficacy and tolerability of medical cannabis oil as a possible treatment for pediatric epilepsy ([[Dravet syndrome]]).<ref>{{Cite web|url=http://www.sickkids.ca/AboutSickKids/Newsroom/Past-News/2018/first-canadian-paediatric-study-mixed-cannabis-oil-shows-promise.html|title=First Canadian paediatric study of mixed THC/CBD cannabis oil shows promise for children with drug-resistant epilepsy|publisher=The Hospital for Sick Children|website=SickKids|language=en|access-date=2019-02-12}}</ref> In partnership with the [[University of British Columbia]], Tilray provided medical cannabis products used to test medical cannabis as a possible treatment for [[post-traumatic stress disorder]].<ref>{{Cite web|url=https://www.businessexaminer.ca/vancouver-island-articles/item/ubc-tilray-launch-clinical-trial-to-study-medical-cannabis-ptsd|title=UBC & Tilray Launch Clinical Trial to Study Medical Cannabis & PTSD - Business Examiner|website=www.businessexaminer.ca|date=September 8, 2016 |access-date=2019-02-13}}</ref> In partnership with the Grupo Español de Investigación&nbsp;en Neurooncología GEINO, in Spain, Tilray supplied medical cannabis products for the trial testing the efficacy and tolerability of medical cannabis as a possible treatment for [[glioblastoma]].{{citation needed|date=March 2022}}
In 2019, Tilray signed an agreement with Cannamedical Pharma GmbH to export $3.3 million worth of medical cannabis from its Portugal facility to Germany, marking Tilray's first export from Tilray Portugal Unipessoal, Lda.<ref>{{Cite web|url=https://www.marketwatch.com/story/tilray-signs-first-deal-to-supply-pot-to-europe-out-of-new-portugal-facility-2019-08-21|title=Tilray signs first deal to supply pot to Europe out of new Portugal facility|last=Cherney|first=Max A.|website=MarketWatch|language=en-US|access-date=2019-08-21}}</ref> Tilray also has a research partnership with [[Coimbra University]] in Portugal.<ref>{{Cite web|url=https://born2invest.com/articles/tilray-partnership-with-coimbra-university-to-study-medical-cannabis/|title=Tilray partners with Coimbra University to study medical cannabis|last=Freeman|first=Daphne|date=2019-12-19|website=Born2Invest|language=en-US|access-date=2020-01-19}}</ref>
In August 2019, Tilray announced a partnership with [[New York University]] to study the potential ability of CBD to treat [[alcohol use disorder]] and post-traumatic stress disorder.<ref>{{Cite web|url=https://www.cnbc.com/2019/08/08/pot-company-tilray-to-import-cbd-for-nyu-clinical-trials.html|title=Canadian pot company Tilray ships CBD to US for clinical trials on alcohol and PTSD|last=LaVito|first=Angelica|date=2019-08-08|website=CNBC|language=en|access-date=2019-08-08}}</ref> In partnership with New York University, Tilray supplied CBD for a clinical trial studying its possible efficacy for treating disorders caused by [[breast cancer]] treatments.<ref name="calderone">{{cite news |author1=Gregory Calderone |title=Gregory Calderone |url=https://www.bnnbloomberg.ca/tilray-jumps-on-u-s-study-of-cannabis-in-breast-cancer-patients-1.1337094 |access-date=15 January 2021 |work=Bloomberg |date=24 October 2019}}</ref>
== Microbiological quality of medicinal cannabis ==
To ensure the best possible microbiological quality of medicinal cannabis flowers, treatment with ionizing radiation has become established worldwide to reduce bacterial counts. This is of great importance to protect patients, some of whom are highly vulnerable.<ref>{{cite web | url=https://www.apotheke-adhoc.de/branchennews/alle-branchennews/branchennews-detail/tilray-warum-die-bestrahlung-von-cannabisblueten-unerlaesslich-sein-sollte/ | title=Warum die Bestrahlung von Cannabisblüten unerlässlich sein sollte }}</ref>
== References ==
{{Reflist}}
== External links ==
* {{official website|https://tilray.com}}
{{Finance links
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| symbol = TLRY
| reuters = TLRY.O
| bloomberg = TLRY:US
| sec_cik = TLRY
| yahoo = TLRY
| google = TLRY
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[[Category:2018 initial public offerings]]
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[[Category:Cannabis companies of Canada]]
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[[Category:Pharmaceutical industry]]
[[Category:Pharmaceutical companies of Canada]]
[[Category:Pharmaceutical companies established in 2013]]