Tilray, a global cannabis-lifestyle and consumer packaged goods company, recently acquired Colorado’s Breckenridge Distillery, known for its whiskey and craft spirits portfolio.
Chairman and CEO of Tilray, Irwin D. Simon, said that his company’s strength lies in their ability to identify and significantly expand leading lifestyle brands that resonate with consumers.
“Breckenridge Distillery is an iconic addition to our platform in this respect based on its portfolio of award-winning spirits, passionate consumer engagement, and a strong sales and distribution network,” he said in a prepared statement. “We 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.”
Notably, Simon said, the Breckenridge Distillery transaction is part of Tilray’s strategy of leveraging their portfolio of brands to launch THC-based product ventures, upon federal legalization in the U.S.
Bryan Nolt, Breckenridge Distillery’s founder and CEO, said they are excited to join Tilray and drive revenue growth as part of its global and leading CPG and cannabis-lifestyle platform. “The award-winning spirits that have driven our success will unquestionably benefit from access to Tilray’s global distribution network and opportunities to expand into cannabis and edible-related products in the U.S.”
Meaning that when federally permissible, Tilray’s acquisition of Breckenridge Distillery will enable the company to commercialize new, innovative products through the development of non-alcoholic distilled spirits, including bourbon whisky, that’s infused with cannabis.
Founded in 2008, Breckenridge Distillery is known for its blended bourbon whiskey, a high-rye mash American-style whiskey, and a collection of artisanal spirits.
Breckenridge consumer engagement strategy is defined by its experiential marketing and social media outreach and includes an exclusive partnership as the hometown bourbon of the Denver Broncos. Among other accolades, Breckenridge’s blended bourbon whiskey is a four-time winner of Best American Blended Whiskey from the World Whiskies Awards.
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Tilray, Inc. now has operations in Canada, the United States, Europe, Australia, and Latin America. Described as a pioneer in cannabis research, cultivation, and distribution, its production platform supports more than 20 brands in more than 20 countries, including comprehensive cannabis offerings, hemp-based foods, and alcoholic beverages.
For more information about Tilray, check out www.Tilray.com.
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