Tilray acquires Truss Beverage Co.

Company recently acquired HEXO Corp., which had a joint venture with Molson Coors.

Tilray Brands, Inc. has acquired the remaining 57.5% equity ownership of Truss Beverage Co. from Molson Coors Canada.

Founded in 2018, Truss Beverage Co. was a joint venture between Molson Coors and HEXO Corp., which Tilray Brands acquired in June. The acquisition made Tilray the largest Canadian cannabis company by revenue.

With a combined pro-forma market share of approximately ~36% (+33.2%), Tilray broadens its consumer base and leading market share position. Tilray's cannabis portfolio now includes beverage brands such as XMG, Mollo, House of Terpenes, and Little Victory.

“In addition to acquiring full and direct ownership of a stable of high-growth brands, this acquisition further strengthens Tilray’s No. 1 cannabis market share position in Canada and positions the company at the forefront of the adult-use beverage sector,” said Blair MacNeil, president, Tilray Canada. “We are excited to build upon our leading portfolio of beloved cannabis brands and to further diversify our product offerings while broadening our consumer reach and enhancing consumer’s lives.”

Alyse Thompson-Richards has held many positions with BNP Media, first serving as an intern at Candy Industry Magazine in summer 2012. She joined Candy Industry's staff full time as associate editor in August 2016 after a few years at newspapers in West-Central Illinois, becoming managing editor in March 2019. Alyse has also served on Cannabis Products Insider since March 2019. She has bachelor’s degrees in journalism and Spanish from Western Illinois University.