Tilray Brands will stop producing beer at its Terrapin facility in Athens, Georgia as the cannabis and beverages group continues to “optimise” its US beer network.
In a statement, the group said from 25 September, it will move “brewing production from Athens to other breweries within our network”.
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It said the move was part of “ongoing efforts to optimise our brewing network and support our long-term operating model”.
The Nasdaq-listed company added: “With robust brewing operations across the country, this transition allows us to continue serving customers efficiently while leveraging the scale and capabilities of our broader brewery footprint.”
The taproom, warehouse and repack operations in Athens “will remain open and continue serving customers from the current location”.
The Sweetwater and Montauk brand owner said: “Terrapin remains a beloved brand and continues to play an important role in our craft beer portfolio”, adding its commitment to the brand and its consumers “remains unchanged”.
The move follows wider restructuring in Tilray’s beverage division.
In its 10-K filing at the end of July, the company said restructuring activities in its beverages operations were tied mainly to “Project 420”, a programme Tilray announced last year through which the group was looking to find synergies to boost the profitability of its drinks division.
Tilray said in its 10-K the programme included the closure and consolidation of brewery and related facilities including Redhook, Terrapin, Atwater, Hop Valley and Revolver.
In July, the business renamed its Revolver brand Revolver Beer and Spirits, expanding the brand into spirits.
Tilray also sold Atwater Brewery in June back to founder Mark Rieth for an undisclosed sum.
At the time, Tilray said the disposal supported its strategy to prioritise “high-performing brands, scalable operations and growth across key markets”.
For the year ended 31 May 2026, Tilray’s beverage net revenue rose 6% to $254m, while gross profit fell 2% to $91.2m and gross margin narrowed to 36% from 39%.
In the fourth quarter, beverage net revenue increased 61% to $105.6m and gross profit rose 62% to $40.6m, with gross margin unchanged at 38%.
