top of page

The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

FoodBev Media Logo
Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

Tilray acquires remaining stake in Truss cannabis beverage venture
FoodBev Media

FoodBev Media

21 August 2023

Tilray acquires remaining stake in Truss cannabis beverage venture

Cannabis lifestyle and CPG company Tilray Brands has announced it has purchased the remaining 57.5% equity ownership of Truss Beverage from Molson Coors Canada. Truss was a joint venture established between Molson Coors and producer of cannabis products Hexo, to develop non-alcoholic, cannabis-infused beverages for the Canadian market. In June this year, Tilray acquired Hexo. In a statement, Tilray said that regulatory shifts are expected to facilitate market entry for cannabis-infused beverages, promising “substantial growth for the category,” with authorities re-evaluating their consumer policies. Tilray said the acquisition would strengthen its market position and streamline sales and distribution. Blair MacNeil, president of Tilray Canada, said: “In addition to acquiring full and direct ownership of a stable high-growth brand, this acquisition further strengthens Tilray’s number one cannabis market share position in Canada and positions the company at the forefront of the adult-use beverage sector. 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.” Tilray’s expanded cannabis portfolio now includes XMG, Mollo, House of Terpenes and Little Victory, with a “combined pro-forma market share of around 36%”. The announcement follows news last week that Tilray had acquired eight beverage brands from AB InBev in an $85 million deal.

Related posts
Balchem to launch cold water-soluble oat-based creamer
Plant-based

Balchem to launch cold water-soluble oat-based creamer

Japan’s Ueshima brings RTD iced coffee cans to UK
New products

Japan’s Ueshima brings RTD iced coffee cans to UK

Treasure Wine Estates and Snoop Dogg partner to launch RTD cocktail range
Beverage

Treasure Wine Estates and Snoop Dogg partner to launch RTD cocktail range

Diageo divests majority stake in Guinness Nigeria to Tolaram
Alcohol

Diageo divests majority stake in Guinness Nigeria to Tolaram

Mtn Dew introduces limited-edition summer flavours
Beverage

Mtn Dew introduces limited-edition summer flavours

CCEP adds Golden Mango flavour to Powerade line-up
New products

CCEP adds Golden Mango flavour to Powerade line-up

bottom of page