Tilray Brands has entered a licensing agreement with Carlsberg which will allow it to produce some of the Danish brewing giant’s beers in the US.
A statement from the US-based cannabis and drinks producer confirmed that under the agreement, it will brew, market, sell and distribute several Carlsberg beer brands across the country from January next year.
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These products will include its namesake brand, as well as Carlsberg Elephant, 1664 and Kronenbourg 1664 Blanc.
The agreement lasts five years, and includes an automatic renewal for another five-year period “subject to performance criteria”, the statement read.
Chairman and CEO of Tilray Brands, Irwin Simon, said: “This partnership brings together two highly complementary organisations and underscores the strength of Tilray’s beverage platform.
“By combining Carlsberg’s iconic global brands and proven brewing heritage with Tilray Beverages’ US operational scale, quality standards, and national commercial team, we are well positioned to expand Carlsberg’s presence in the premium European segment and drive long-term growth in the US beer market.
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By GlobalData“Beer is here to stay, and this agreement reinforces our strategy of partnering with best-in-class brands and maximising the value of our beverage operations.”
According to Tilray, the agreement will bring “immediate scale and revenue accretion” once it comes into force next year, with Carlsberg’s “globally recognised” portfolio expected to power growth in volumes, and increase shelf presence, and “accelerate revenue”.
Prinz Pinakatt, chief growth officer of Tilray’s drinks arm, Tilray Beverages, added: “Carlsberg’s portfolio aligns well with Tilray Beverages’ expanding platform. Our established capability to brew at scale, build brand equity, and commercialise effectively throughout the US makes us an ideal partner to support Carlsberg’s growth objectives. We are excited about the potential to create significant long-term value for both companies.”
Just Drinks has contacted Carlsberg for comment on the licensing agreement.
