Canada | This sounds desperate. As US cannabis legalisation has not progressed as hoped, the Canadian cannabis firm Tilray has to change its strategy to weather the financial storm. It may make more acquisitions in the alcohol space, or even grow vegetables at its cannabis facilities, CEO Irwin Simon said during an earnings call on 9 January 2023.
USA | It was a tough year for US brewers: domestic beer production is believed to have dropped by 5 percent in 2022, a loss of 5.9 million barrels (7 million hl) over 2021. This was reported by the website beerinsights.com on 6 January.
Canada | Low valuations for craft brewers must have finally lured Danish brewers Royal Unibrew and Carlsberg to Canada. The past few years have been a fight for survival in the Canadian brewing industry, as beer sales are still below 2019 levels, and prices for craft brewers are showing it.
USA | Canadian cannabis firm Tilray has taken another step into the US beverage alcohol sector, adding the craft brewer Montauk from metro New York to its brewery portfolio. Terms of the acquisition were not disclosed in a 7 November press release.
USA | Analysts believe there will be no slow-down in the ready-to-drink (RTD) category. A new report from the IWSR, an analytics firm, forecasts that the category’s global value will increase by an additional USD 11.6 billion over the next five years. Value growth will outpace volume growth, the IWSR added.
USA | What is going on at TRU Colors Brewing, a Wilmington, North Carolina-based brewery, renowned for its mission to end gang violence by employing active, rival gang members? Only in July had its founder, George Taylor, bid USD 20 million for San Diego’s struggling craft brewer Modern Times. And on 9 September he closed TRU Colors’ doors.