Tilray Brands and the Carlsberg Group enter into multi-year U.S. brewing partnership

Tilray Brands has entered into an exclusive licensing agreement starting January 1, 2027 with the Carlsberg Group, one of the world's premier brewing organizations and among the largest globally by revenue.

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 in the 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 the U.S. to locally manufacture and increase Carlsberg's market share of premium and mainstream imported beers within the U.S., which is recognized as the world's second-largest beer market. The partnership further strengthens Tilray's position as a scaled, diversified beverage platform.

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Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands, said, "This partnership brings together two highly complementary organizations and underscores the strength of Tilray's beverage platform. By combining Carlsberg's iconic global brands and proven brewing heritage with Tilray Beverages' U.S. operational scale, quality standards, and national commercial team, we are well positioned to expand Carlsberg's presence in the premium European segment and drive long-term growth in the U.S. beer market. Beer is here to stay, and this agreement reinforces our strategy of partnering with best-in-class brands and maximizing the value of our beverage operations."

Prinz Pinakatt, Chief Growth Officer of Tilray Beverages, stated, "Carlsberg's portfolio aligns well with Tilray Beverages' expanding platform. Our established capability to brew at scale, build brand equity, and commercialize effectively throughout the U.S. makes us an ideal partner to support Carlsberg's growth objectives. We are excited about the potential to create significant long-term value for both companies."