Anheuser-Busch, the world’s largest brewer, is in a tailspin. The company has been forced to sell off some of its most popular brands, and its stock price has plummeted.
A-B is apparently being forced to sell off a few of its brands in order to stay afloat. These include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and Hiball Energy. All of these are craft beers, meaning that A-B is cutting a solid chunk off of its craft beer portfolio.
One company is buying all of these brands, a Canadian company called Tilray Brands. Tilray posted a small video on X announcing the purchase.
$TLRY Announces Agreement to Acquire Eight Beer & Beverage Brands from Anheuser-Busch, Fueling Tilray’s Future in The U.S. Craft Beer Industry.
Details https://t.co/COLGkq3mM4 pic.twitter.com/XB677bJj0F
— Tilray Brands (@tilray) August 7, 2023
Tilray is a cannabis company. According to a 2022 Forbes interview with its president Irwin D Simon, the company was already looking to branch out and become a player in the American beer market.
“I very much want us to be a branded consumer products company, focusing on adult-use cannabis, medical cannabis, the beer category, the spirits category, and where it makes sense, we will have infused foods,” said Simon. “Our strategy is very different than anybody else out there. There are no cannabis companies that own alcohol brands today. We will continually look for companies and brands that have an established presence that we can build into a powerful portfolio.”
The decline started when Anheuser-Busch decided to team Bud Light up with Dylan Mulvaney, a transgender TikTok influencer that seemed to be popping up on every brand and every channel whether you wanted him to or not. The reaction was almost immediate, and the Bud Light boycott led to the total refusal to take part in Anheuser-Busch products.
The Anheuser-Busch boycott is a profound and unmistakable rebuke of the woke culture that’s infected our society and focusing on our children.
