SEATTLE — Seattle’s Redhook Brewery has been sold by Anheuser-Busch to cannabis company Tilray Brands in an eight-beverage brand deal.
Redhook Brewery was founded in 1981 in Seattle’s Ballard neighborhood and is considered a pioneer in craft brewing history. Anheuser-Busch had a 25% stake in Redhook before the brewery merged with Portland-based Widmer Brothers Brewing to form Craft Brew Alliance. Anheuser-Busch bought Craft Brew Alliance in 2019.
In addition to Redhook and Widmer Brothers, Tilray is also acquiring Oregon-based 10 Barrel Brewing Company, as well as Shock Top, Breckenridge Brewery, Blue Point Brewing Company, Square Mile Cider Company, and HiBall Energy.
The deal is expected to elevate Tilray to the fifth largest craft beer business in the U.S., up from ninth.
Tilray currently owns SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company and Breckenridge Distillery.
“We are excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities,” Tilray’s CEO Irwin D. Simon said in a statement. “Tilray has solidified its leadership position in the craft beer industry, and we fully intend to be that change agent that reinvigorates the sector.”
Simon said the company, which specializes in cannabis products, is committed to investing in the future of the craft beer industry.
Anheuser-Busch still owns Seattle-based Elysian Brewing Company, which it acquired in 2015, according to CNBC.
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