Tilray Brands has struck a deal to brew for Carlsberg in the US.
A statement from the US-based cannabis and drinks producer confirmed it will brew, sell and distribute Carlsberg brands including Carlsberg and 1664 across the country from January.
The Danish brewing giant presently exports its beers to the US.
According to the statement, the agreement lasts five years, and includes an automatic renewal for another five "subject to performance criteria".
Tilray chairman and CEO 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.
"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.”
In a statement, Carlsberg said: "While the US is a relatively small market for Carlsberg Group today, representing less than 0.1% of our global revenue, this partnership enables local production of select Carlsberg brands through Tilray’s existing US brewing operations and a platform for us to grow the business together over time."
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.”
Tilray has become a significant beer player in the US following its purchase of a clutch of craft beer brands over the past few years from Anheuser-Busch InBev and Molson Coors Beverage Company, making it the fourth largest brewer in the country.
