Cannabis firm Tilray Brands (TLRY) has entered into an exclusive licensing agreement starting January 1, 2027, with the Danish brewer Carlsberg Group (CABGY), it said on Wednesday.
Under the terms of the agreement, Tilray has been granted a multi-year license to produce, market, sell, and distribute Carlsberg, Carlsberg Elephant, 1664, and Kronenbourg 1664 Blanc branded beers across all channels inthe United States, beginning January 1, 2027.
The agreement has an initial five-year term, with an automatic renewal for an additional five years subject to performance criteria.
Tilray will leverage its brewing facilities, sales and marketing team, and commercial expertise in theU.S.to locally manufacture and increase Carlsberg’s market share of premium and mainstream imported beers within theU.S., which is recognized as the world’s second-largest beer market.
“Carlsberg’s portfolio aligns well with Tilray Beverages’ expanding platform… We are excited about the potential to create significant long-term value for both companies,” Prinz Pinakatt, Chief Growth Officer of Tilray Beverages, said.
