Tilray strikes beer agreement with Carlsberg

Executive Summary

• Tilray Brands Inc. has entered into an exclusive multi-year licensing agreement with the Carlsberg Group to produce, market, sell, and distribute Carlsberg-branded beers in the United States.
• The partnership grants Tilray a license for brands including Carlsberg, Carlsberg Elephant, 1664, and Kronenbourg 1664 Blanc, starting January 1, 2027.
• The agreement is designed to leverage Tilray’s U.S. brewing infrastructure and sales network to expand Carlsberg’s market share in the U.S., which is the world's second-largest beer market.

Key Details

• Parties: Tilray Brands Inc. and The Carlsberg Group.
• Agreement Type: Exclusive multi-year licensing agreement for brewing and commercial partnership.
• Effective Date: January 1, 2027.
• Term: Initial five-year term with an automatic renewal for an additional five years, subject to performance criteria.
• Licensed Brands: Carlsberg, Carlsberg Elephant, 1664, and Kronenbourg 1664 Blanc.
• Territory: All channels in the United States.
• Operational Strategy: Tilray will utilize its existing brewing facilities, sales team, and commercial expertise to locally manufacture and distribute the Carlsberg portfolio.
• Strategic Goals:
  • Increase Carlsberg's market share of premium and mainstream imported beers in the U.S.
  • Strengthen Tilray’s position as a scaled, diversified beverage platform.
  • Drive volume growth, expand shelf presence, and accelerate revenue.
  • Enhance asset utilization and supply chain resilience through Tilray’s operational footprint.
• Company Background (Carlsberg Group): Founded in 1847, employs over 37,000 people, operates breweries in more than 30 countries, and has a presence in over 150 markets.

Notable Quotes

• Irwin D. Simon, Chairman and CEO of Tilray Brands: "This partnership brings together two highly complementary organizations and underscores the strength of Tilray's beverage platform. By combining Carlsberg's iconic global brands and proven brewing heritage with Tilray Beverages' U.S. operational scale, quality standards and national commercial team, we are well positioned to expand Carlsberg's presence in the premium European segment and drive long-term growth in the U.S. beer market. Beer is here to stay, and this agreement reinforces our strategy of partnering with best-in-class brands and maximizing the value of our beverage operations."