Tilray Acquires 8 Beer Brands From Struggling Bud Light Parent Anheuser-Busch: Here’s What It Means For Both Companies

Tilray Brands, Inc. (NASDAQ:TLRY), a cannabis and consumer packaged goods company, announced it has entered into a definitive agreement to acquire eight beer and beverage brands from Anheuser-Busch (NYSE:BUD). The acquisition places Tilray Brands as the 5^th largest craft beer business in the U.S., up from 9^th. 

In view of Bud Light’s recent controversy, parent company Anheuser-Busch seems to be delighted with the new situation. Bud Light sparked an anti-trans backlash when it announced its collaboration with trans activist Dylan Mulvaney.