Tilray Brands completes acquisition of BrewDog Brewing

Executive Summary

• Tilray Brands Inc. has completed the acquisition of BrewDog Brewing Australia Pty. Ltd., establishing a strategic base to accelerate global beverage and consumer products growth across the Asia-Pacific region.
• The transaction includes BrewDog's Australian brewing and production facility in Brisbane, Queensland, along with a portfolio of owned and franchised BrewDog bars across Australia.
• This acquisition complements Tilray's recently announced acquisition of BrewDog's profitable U.K. operations, further expanding Tilray's international brewing footprint and strengthening its scaled global beverage platform.

Key Details

• Transaction Structure: Completed acquisition of BrewDog Brewing Australia Pty. Ltd.
• Assets Acquired:
  • BrewDog's Australian brewing and production facility located in Brisbane, Queensland.
  • Two owned BrewDog bar locations in Brisbane: DogTap Brisbane and BrewDog Fortitude Valley.
  • Three franchised BrewDog locations in:
    • Pentridge (Victoria)
    • South Eveleigh (New South Wales)
    • Perth (Western Australia)
• Strategic Rationale:
  • Establishes a strategic hub to introduce Tilray's portfolio of leading U.S. beverage brands across the Asia-Pacific region.
  • Provides a gateway to rapidly growing markets including Southeast Asia, Japan, and South Korea.
  • Leverages BrewDog's brewing capabilities, production infrastructure, and hospitality locations to invest in the brand's next chapter.
• Management Commentary:
  • Irwin D. Simon (Chairman and CEO) highlighted Australia as a highly attractive craft beer market with a strong beer culture.
  • Rajnish Ohri (President, International) noted the acquisition provides a strong foundation in a key market and an important hub for international beverage and consumer products business.
  • Focus areas include growing the brand locally, expanding BrewDog across Australia's national retail chain footprint, and introducing Tilray's broader beverage portfolio.

Notable Quotes

• "The acquisition of BrewDog's profitable Australian brewery operations and flagship bars represents another important milestone in advancing Tilray's global beverage and consumer products strategy. Australia is a highly attractive craft beer market with a strong beer culture and serves as a strategic gateway to the rapidly growing Asia-Pacific region." — Irwin D. Simon, Chairman and CEO
• "We're excited to welcome the BrewDog Australia team to Tilray Brands. They bring strong brewing expertise, experienced local leadership and a deep connection to the Australian craft beer community." — Rajnish Ohri, President, International