Anheuser-Busch has released eight of its beverage brands to Canadian cannabis company Tilray Brands. The deal will include AB InBev brands such as Shocktop, Blue Point, Breckenridge Brewery, Redhook Brewery, HiBall Energy and others.

According to Forbes, Tilray Brands is the largest cannabis company in the world, and with the AB InBev deal , it will become the fifth-largest craft brewer and 15th-largest overall brewer in the United States.

“I very much want us to be a branded consumer products company, focusing on adult-use cannabis, medical cannabis, the beer category, the spirits category, and where it makes sense, we will have infused foods," Tilray Brands president Irwin D Simon said in a 2022 interview.

"Our strategy is very different than anybody else out there. There are no cannabis companies that own alcohol brands today. We will continually look for companies and brands that have an established presence that we can build into a powerful portfolio."

Tilray Brands already owns SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company and Green Flash Brewing Company, Breckenridge Distillery and Happy Flower CBD sparkling non-alcoholic cocktails.

With the announcement of the transaction, Simon commented, “Leveraging the deep CPG expertise of Tilray’s leadership team and acquisition integration track record, we intend to drive both revenue and cost synergies, while significantly expanding national distribution to coveted markets across the U.S. and internationally. In a matter of three years, Tilray has solidified its leadership position in the craft beer industry, and we fully intend to be that change agent that reinvigorates the sector. Upon federal cannabis legalization, we expect to leverage our leadership position, wide distribution network and portfolio of beloved beverage and wellness brands to include THC-based products and maximize all commercial opportunities.”

Confused by cannabis? Listen to a recent Convenience Matters podcast on the topic with guest Melissa Vonder Haar.