BrewDog-Backed U.S. Cannabis and Beer Company Aims for 1.6 Trillion Won Annual Revenue

Tilray Brands, Inc. (NASDAQ: TLRY) announced on March 2 that it has acquired BrewDog’s global brand and intellectual property, its U.K. brewing facilities, and 11 profitable brewpubs in the U.K. and Ireland for approximately £33 million (about KRW 80 billion).

The company expects the acquired assets to generate annual net revenue of roughly $200 million (around KRW 270 billion) and adjusted EBITDA of $6–8 million (approximately KRW 8–11 billion).

Tilray also plans to complete additional BrewDog asset acquisitions in the U.S. and Australia within about 30 days, aiming to expand consolidated net revenue to approximately $1.2 billion (around KRW 1.6 trillion) by fiscal year 2027.

Immediately after the deal was announced, Tilray’s shares closed down about 4% on the Nasdaq amid investor concerns over profitability.

In fiscal 2025, the company recorded annual revenue of roughly $821 million (about KRW 1.1 trillion) and has been steadily growing its beverages segment by acquiring various craft beer brands from companies such as Molson Coors.

Tilray is a global consumer packaged-goods company operating cannabis, alcoholic beverages and wellness products in Canada, the U.S. and Europe. In recent years, it has accelerated its craft beer acquisitions to increase the share of its non-cannabis business.

With North America’s tightly regulated cannabis market growing slowly, the industry has broadly adopted a portfolio-expansion strategy that combines alcoholic and hemp-based beverages.