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Tilray buys Breckenridge Distillery with plans for THC beverages upon federal legalization of cannabis

Tilray Inc. TLRY, +3.17% said Wednesday it’ll pay an undisclosed sum for Colorado-based bourbon whiskey and craft spirits maker Breckenridge Distillery. Tilray said the deal will add to its Ebitda, but it did not provide a dollar figure. Tilray CEO Irwin D. Simon said the acquisition by the cannabis company is aimed at leveraging its portfolio of U.S. brands to launch THC-based products upon federal legalization of cannabis in the U.S.
Breckenridge Distillery founder and CEO Bryan Nolt said the company’s success will “unquestionably benefit from access to Tilray’s global distribution network and opportunities to expand into cannabis and edible-related products in the U.S.” The sellers of Breckenridge were led by Sababa Partners I LLC, an entity controlled by Sir Martin E. Franklin. Tilray shares rose 1.4% in pre-market trades.

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