Tilray Acquired Colorado-Based Breckenridge Distillery
Elena Rahman — December 10, 2021 — Business
References: tilray & mjbizdaily
Tilray is a Canadian cannabis producer. The company recently acquired Breckenridge Distillery, a Colorado-based company. Tilray is taking steps into the U.S. alcohol industry in an innovative way. The acquisition follows the merger of Aphria and Tilray back in 2020.
As the cannabis industry continues to grow in popularity through consumer demands and legalization, Tilray is looking for new ways to consume the substance. Once the Breckenridge acquisition is complete, the company plans to launch cannabis-infused whiskey. The whiskey, however, will be non-alcoholic, making for a one-of-a-kind product.
Tilray CEO Irwin Simon said that they "see tremendous potential for Breckenridge and our existing SweetWater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment."
Image Credit: Shutterstock
As the cannabis industry continues to grow in popularity through consumer demands and legalization, Tilray is looking for new ways to consume the substance. Once the Breckenridge acquisition is complete, the company plans to launch cannabis-infused whiskey. The whiskey, however, will be non-alcoholic, making for a one-of-a-kind product.
Tilray CEO Irwin Simon said that they "see tremendous potential for Breckenridge and our existing SweetWater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment."
Image Credit: Shutterstock
Trend Themes
1. Cannabis-infused Non-alcoholic Beverages - The trend towards cannabis-infused non-alcoholic drinks is disrupting the beverage industry by creating unique products that appeal to cannabis consumers who do not want to drink alcohol.
2. Cross-industry Acquisitions - As cannabis companies acquire companies in other industries, such as alcohol, new opportunities arise for innovative products that combine the strengths of each industry and reach new audiences.
3. Cannabis Legalization and Consumer Demand - The trend towards cannabis legalization and increased consumer demand for cannabis products creates opportunities for companies to introduce new and innovative cannabis-infused products to the market.
Industry Implications
1. Cannabis Industry - With the continued legalization of cannabis, there is ample opportunity for companies to innovate and create new products that cater to the needs and desires of consumers.
2. Alcohol Industry - As cannabis companies and alcohol companies collaborate and merge, they are creating unique products and disrupting the beverage industry.
3. Food and Beverage Industry - The trend towards cannabis-infused food and beverages is disrupting the food and beverage industry by creating new products and expanding the reach of cannabis consumers.
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