Tilray Bolsters its Cannabis Beverage Business Through Truss Acquisition

Aug. 18, 2023

Canadian cannabis company Tilray makes its second acquisition in the last two weeks by acquiring the remaining ownership stake in Truss Beverage Co. from Molson Coors Canada.

Andy Hanacek

Leamington, Ontario-based cannabis-lifestyle and CPG company Tilray Brands has acquired the remaining 57.5% equity ownership of Truss Beverage Co. from Molson Coors Canada, the company announced in a news release.

Truss specializes in cannabis beverages and strengthens Tilray’s cannabis market share position in Canada, the release said. Blair MacNeil, president of Tilray Canada, says the acquisition “positions the company at the forefront of the adult-use beverage sector.”

In addition, Tilray’s expansion into the functional drinks category is expected to drive portfolio growth for the company and broaden its consumer base. Through the deal, Tilray will own the XMG, Mollo, House of Terpenes, and Little Victory brands.

This is the second acquisition for Tilray in the last two weeks, after the company purchased eight beer and beverage brands from Anheuser-Busch in early August.

About the Author

Andy Hanacek | Senior Editor

Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.