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Anheuser-Busch is selling the eight brands to Tilray Brands, a cannabis-lifestyle and consumer packaged goods company.
Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy.
Tilray will be the fifth-largest craft beer business in the United States after this acquisition.
Before this acquisition, Tilray was the ninth-largest craft beer business in the United States.
This selling of 8 brands from Bud light maker was due to slump in U.S. sales of Bud Light.
Anheuser-Busch reported a drop in sales and profit in the last quarter due to backlash of Bud light beers in US.
This decline is followed by the Bud Light’s controversial partnership with transgender influencer Dylan Mulvaney
Retail sales of Bud Light had dropped by 42 percent in some U.S. cities in the four week period ending on July 22
Modelo in the U.S., saw 7.5 percent growth in beer volumes in the quarter ending on May 31 compared to the same period last year.
As of July 29, Bud Light is still the #1 selling beer with 8.4 share of the category and Modelo Especial still sitting at 8.2 share,
Rival Molson Coors Benefits from Bud Light’s Troubles
Retailers are reallocating shelf space to other brands during spring resets.
Bud Light begun significant layoffs following the nationwide backlash and boycotts against the company.
The beer company has laid off roughly 350 employees.
Its position has fallen and now it is out of the coveted top ten.
Bud Light was previously the ninth most popular beer in America.
The collapse of Bud Light, other brands are looking to expand their market share and staff.
Bud Light was once the best-selling beer in the U.S. for long time now
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