• The Pre Roll
  • Posts
  • 🌿 Tilray makes another beverage move, the Inc. 5000, and Q2 financial results

🌿 Tilray makes another beverage move, the Inc. 5000, and Q2 financial results

Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know. Here’s what we’re rolling up this week: Tilray makes another beverage move, the Inc. 5000, Q2 financial results, and more. Let’s get to it.

Author

Alex Lipnik
August 16, 2024

together with

Happy Friday Pre Rollers! Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know.

Here’s what we’re rolling up this week:

  • Tilray makes another beverage move

  • The Inc. 500

  • Q2 financial results

…and more. Let’s get to it.

Was this email forwarded to you?

🚨 ROLL CALL
Business

Source: Brewbound

Buy you a drink. Global cannabis company Tilray Brands is set to acquire four craft beer breweries from Molson Coors. The deal includes Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing, and Atwater Brewery.

Tilray already has an expansive portfolio of craft beer, spirits, and non-alcohol beverages including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy, and Happy Flower CBD sparkling cocktails.

Last year, the company bought eight of those beverage brands from Anheuser-Busch for a reported $85 million — a bet that is already paying off.

It ranked sixth on the Brewers Association’s annual list of the top 50 producing craft brewing companies in the U.S. for 2023.

Tilray’s beverage alcohol business already accounts for a larger share than its cannabis business and recent moves suggest it will continue trending in that direction.

Business

In the fast lane. A number of cannabis and ancillary companies were included on the Inc. 5000 — an annual list of America’s fastest-growing private companies — for 2024. Here are the companies that made the cut, in order of ranking:

  • #10: Alpine IQ

  • #382: Blazy Susan

  • #1,000: Azuca

  • #1,121: Blaze

  • #2,955: Treez

Business

Source: MarketBeat

As a result of. Both plant-touching and ancillary cannabis companies have reported financial results for the second quarter of 2024, with varied outcomes. Click on any business below for further detailed information.

🇺🇸 STATE OF THE INDUSTRY

Delaware: Recreational cannabis license applications open next week with a lottery process to follow.

Georgia: The state’s medical cannabis program is growing quickly, by close to 1,000 people every month.

Minnesota: A new law bans smoking cannabis in apartment buildings with at least three units.

North Dakota: Voters will again decide on recreational cannabis as a ballot initiative qualified for the election in November.

Ohio: Dispensaries sold more than $11.5 million in the first five days of recreational sales.

💼 BUSINESS

Ascend and Curio Wellness join forces

The two vertically integrated cannabis operators have entered into a strategic manufacturing and distribution partnership across five states.

🤝 DEALS

SNDL set to secure remaining shares of Nova Cannabis

The Canadian cannabis and liquor retailer is acquiring all of the issued and outstanding common shares, representing approximately 35%, of its fellow Canada-based cannabis company.

💨 QUICK HITTERS
📚 WHAT WE’RE READING

  • Judge Finds Flaws in New York City’s Cannabis Enforcement Efforts (The New York Times)

  • Jesse Ventura Praises Tim Walz for Legalizing Marijuana and Giving Him Credit: ‘I Lit the Match’ (TheWrap)

  • Alabama approved a medical marijuana program in 2021. Patients are still waiting for it. (The Associated Press)

  • Outside Lands 2024: Garden of Weed’n continues to celebrate S.F. cannabis culture (San Francisco Chronicle)

  • Amid upheaval, Cannabis Commission jostles over an audit and an acting director (The Boston Globe)

🎙️ POTCASTS

  • Breaking Barriers: How Conservative States are Embracing Cannabis (Kaya Cast)

  • Trump Tips His Hand On Cannabis Policy (Higher Exchanges)

📽️ VIDEO OF THE WEEK
🔎 JOB BOARD

What did you think of this week's newsletter?

Your feedback helps us create the best newsletter possible.

Login or Subscribe to participate in polls.

📨 PUFF, PUFF, PASS REEFERAL PROGRAM

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

*Did someone forward you this newsletter? Sign up here.