With Truss Acquisition, Tilray Boosts Canadian Beverage Portfolio
January 30, 2024Ontario-based cannabis producer Tilray has completed its acquisition of Truss Beverages from Molson Coors, giving Tilray a dominant 40% market share of Canadian cannabis beverages. In August 2023, Tilray bought out Molson Coors’s 57.5% stake in Truss and, now, with the deal complete, Tilray is in full control of the beverage producer.
Tilray will now move all beverage production to its London, Ontario facility to reduce costs and maximize the facility’s production possibilities. Truss’s production center in Belleville, Ontario will pivot to become Tilray’s home for beverage innovation.
The move reinforces Tilray’s leading market position in both beverages and the wider cannabis market, with the company saying that it now has leading brands across cannabis categories—including Good Supply, Riff, Broken Coast, Solei, Canaca, Hexo, Redecan, Original Stash, Bake Sale, XMG, and Mollo, among others. “Truss has elevated our market share and positions us at the forefront of adult-use beverages,” said Blair MacNeil, president of Tilary Canada. “We’re now strengthening our Canadian operations to be better positioned to further expand our business and consumer base through new brand and product innovation and by serving new consumer segments and occasions.”—Shane English
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