(Tilray) Tilray Inc. has acquired Breckenridge Distillery in a deal it says will steer the cannabis firm towards its $4 billion revenue target by the end of 2024.
Tilray banks on the Breckenridge award-winning spirits, strong sales and supply networks, and consumer engagement, with the acquisition adding to the firm’s EBITDA immediately.
The cannabis company sees a significant potential for Breckenridge and its SweetWater brand complementing each other that will expand market reach and drive profitability.
Tilray CEO and Chairman Irwin D. Simon says the acquisition of Breckenridge is consistent with the company’s strategy of leveraging on growth portfolio.
Breckenridge CEO and founder Bryan Nolt says the company will benefit from Tilray’s global distribution footprint and new opportunities in cannabis and related products.
TLRY: NASDAQ is up +2.01% on premarket.
