Tilray Brands has struck a deal to acquire key BrewDog assets in the US, as it accelerates the build-out of a North American craft beer platform following its recent £33 million acquisition of the brand’s UK operations.
The New York-listed group said it will acquire BrewDog’s brewery, pub and hotel in Columbus, Ohio, alongside pubs in New Albany and Cleveland, and a flagship brewpub on the Las Vegas Strip. The transaction also includes a franchised site in Denver and a licensed outlet at Columbus airport, further extending Tilray’s footprint across multiple high-traffic locations.
Chief executive Irwin Simon said the move strengthens Tilray’s US beverage platform and aligns with its “regional jewel” strategy, which focuses on developing strong local craft brands in their core markets. BrewDog’s established presence in Ohio and its high-profile Las Vegas site are expected to serve as anchor assets for growth in the Midwest and Southwest.
“These assets fit squarely within our brewpub model, creating destination led venues that deepen consumer engagement while providing new opportunities to introduce and sell our broader portfolio of Tilray beverage brands,” he added.
The US deal builds on Tilray’s wider push to take full control of BrewDog’s global operations. Earlier this month, the company completed the acquisition of the craft brewer’s UK brewing business, global brand and intellectual property, along with 11 brewpubs across the UK and Ireland, for £33m.
That transaction handed Tilray control of brewing operations and a significant hospitality estate in key UK locations including London, Manchester, Birmingham and Edinburgh. The sites are expected to generate around $200m in annual net revenue and return to cashflow positivity from fiscal 2027 as integration progresses.
Tilray said the UK acquisition provides a scaled platform for both domestic growth and international expansion, allowing it to leverage BrewDog’s brand recognition and distribution network while introducing its own beverage portfolio into new markets.
The sale followed a difficult trading period. BrewDog reported a pre-tax loss of £36.7m in 2024, an improvement on the £59.2m loss recorded the previous year, but sales growth has slowed significantly.
In parallel, Tilray has also expanded into the Asia-Pacific region through the acquisition of BrewDog’s Australian operations, including its Brisbane brewery and a portfolio of owned and franchised bars. The Australian business is positioned as a strategic hub to support further growth across the region, including entry into markets such as Japan.
Taken together, the transactions give Tilray ownership of the BrewDog brand and its intellectual property worldwide, enabling a unified global strategy across brewing, distribution and hospitality.
“Tilray now owns the BrewDog brand and its intellectual property worldwide. This positions us to steward the brand’s next chapter with a unified strategy and a fully integrated North American brewpub footprint designed to support long‑term growth and brand strength,” Simon said.
The US transaction is subject to customary regulatory approvals and is expected to close in the fourth quarter of Tilray’s 2026 financial year.