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Tilray Brands Announces Acquisition Of Truss Beverage Co.™

Aug 18, 2023over 2 years ago

Acquiring Company

Tilray Brands

Acquired Company

Truss Beverage

New YorkCannabisAgriculture and FarmingCannabisFood And BeverageManufacturing

Description

Tilray Brands, Inc. (“Tilray Brands”, “Tilray” or the “Company”) (Nasdaq | TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced the acquisition of the remaining 57.5% equity ownership of Truss Beverage Co.TM (Truss) from Molson Coors Canada (NYSE: TAP).

Company Information

Company

Tilray Brands

Location

New York, New York, United States

About

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people's lives for the better – one person at a time – by inspiring and empowering a worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Tilray’s mission is to be the most responsible, trusted and market leading cannabis consumer products company in the world with a portfolio of innovative, high-quality and beloved brands that address the needs of the consumers, customers and patients we serve. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages. For more information on how we open a world of wellbeing, visit www.Tilray.com and follow @tilray on all social platforms.

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M&A Insights

Based on deal data
Integration timeline
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Tech stack consolidation
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Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed