The transaction, valued at £33 million, includes BrewDog’s global brand and intellectual property, UK brewing operations and 11 strategic brewpubs in the United Kingdom and Ireland. Tilray is also in separate negotiations to acquire additional BrewDog assets in the United States and Australia.
Founded in 2007, BrewDog is one of the most recognized names in craft beer, with brands such as Punk IPA, Hazy Jane, Lost Lager and Wingman. The company built its international presence through brewery expansions, localized brewpubs and partnerships, becoming one of the largest independent craft beer brands in the UK.
Irwin D. Simon, Chairman and CEO of Tilray Brands, stated that the acquisition strengthens Tilray’s global beverage strategy and positions BrewDog for a renewed focus on craft beer excellence and profitable growth. He emphasized Tilray’s operational expertise and established global beverage infrastructure as key drivers for unlocking future expansion.
The acquired assets are expected to generate approximately $200 million in annual net revenue and $6–8 million in adjusted EBITDA in fiscal 2027. The business is anticipated to become cash flow positive beginning in fiscal 2027 as integration and operational efficiencies are implemented. Tilray projects its total diversified global business to reach approximately $1.2 billion in annualized revenue following the transaction.
The deal includes a portfolio of 11 profitable brewpubs located in Birmingham, Canary Wharf, Dogtap Ellon, Dublin, Edinburgh DogHouse, Lothian Road, Manchester, Paddington, Seven Dials, Tower Hill and Waterloo. Due to licensing transfer timelines, Tilray does not expect a material EBITDA contribution in the fourth quarter of fiscal 2026, with brewing revenues in early fiscal 2027 potentially reflecting transitional timing effects.
With the acquisition, Tilray expands its international brewing capacity and distribution network, reinforcing its ambition to build one of the world’s largest diversified craft beverage platforms.
