According to an announcement from the former-beer titan, they will be slashing their craft beer selection. Anheuser-Busch must now sell eight craft beer brands to Canadian cannabis company Tilray Brands. This is a significant cut from their craft beer portfolio.
Tilray will purchase Shock Top, Breckenridge Brewery, Blue Point Brewing Company, Redhook Brewery, Square Mile Cider Company, 10 Barrel Brewing Company, Widmer Brothers Brewing, and Hiball Energy. The deal should wrap up around Sept. 2023 for about $85 million.
đ¨BREAKING: After losing over $27 billion in market value, Anheuser-Busch is now being forced to SELL OFF several of their beer brands.
AB-InBev will reportedly be selling Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery,âŚ
— Michael Seifert (@realmichaelseif) August 8, 2023
The sale doesnât stop there; Anheuser-Busch will sell the brandsâ employees, breweries, and associated brewpubs. The whole debacle with Dlyan Mulvaney hit the famous beer company harder than they had prepared for. Over time, things have only become worse for A-B.
Sparks flew after the Mulvaney disaster, with certain celebrities taking aim at the company’s beer (quite literally) and beer prices dropping dramatically in stores across the U.S. Over the July 4 weekend a few months ago, Bud Light decided to give away free beer, but not because they were feeling patriotic.
During their beer free-for-all, the nationâs top seller was experiencing a 28.5% plunge in sales. The lame gimmick of giving away free beer for the American holiday was just a sham to offload the product that no one was willing to waste their hard-earned dollars on.
Reports show that the Bud Light and Mulvaney controversy cost their parent company about $390 million in U.S. sales from April to June. April 1, 2023, is when they launched their highly criticized campaign with the transgender influencer. Their losses were undeniably a result of the ties with Mulvaney.
A-B said their U.S. revenue dropped 10.5% in its second quarter compared to the previous year. They blamed volume decline, but we all know why they were plummeting. The worldâs most prominent brewing company stated that sales to U.S. retailers plunged 14% because it was âunderperforming.â
Anheuser-Busch gifted Mulvaney a unique Bud Light can with the transgender influencerâs face on it. It was a gift to celebrate the biological male’s 365th day as a âgirl.â Not a woman, a girl.
âAmericaâs most-loved breweryâ lost its title pretty fast. From being at the top of the list to hitting the cold, hard rock bottom, Anheuser-Busch has taught us all a valuable lesson: Go woke, go broke. Modelo has now taken the spot as Americaâs top-selling beer.
