Tilray Brands Acquires BrewDog U.S. Assets, Including Brewery, Pubs and Hotel

Tilray Brands has signed an asset purchase agreement to take control of BrewDog's U.S. footprint, picking up the Canal Winchester brewing operation outside Columbus, the associated Columbus hotel and brewpub, owned pubs in New Albany and Cleveland, and the Scottish brewer's flagship brewpub on the Las Vegas Strip. The deal also pulls in a franchised BrewDog location in Denver and a licensed outpost inside the Columbus airport.

The announcement, made March 16, frames the move as the next piece of Tilray's self-described "regional jewel strategy" in craft beer, treating Ohio — where BrewDog built one of the state's larger craft presences — as an anchor market. Irwin D. Simon, Tilray's chairman and CEO, called the Las Vegas property a flagship "located on a premier stretch of the Las Vegas Strip" and said the assets "fit squarely within our brewpub model, creating destination led venues that deepen consumer engagement while providing new opportunities to introduce and sell our broader portfolio of Tilray beverage brands." The U.S. transaction is expected to close in Q4 FY2026, subject to customary regulatory approvals.

The U.S. deal doesn't stand alone. Industry reporting indicates that on the same day, Tilray completed a separate acquisition of BrewDog's UK and Ireland assets through a pre-pack administration valued at GBP 33 million (roughly USD 42 million). That package included BrewDog's global brand and intellectual property, the main production brewery in Ellon, Scotland, and eleven brewpubs across the UK and Ireland, with named locations in Birmingham, Canary Wharf, Manchester, Dublin, and the Dogtap venue in Ellon. The Ellon facility is expected to remain operational under Tilray ownership.

BrewDog's road to this point was rough. The Scottish brewer, founded in 2007 and best known for Punk IPA, had been bleeding through losses, job cuts, and the closure of ten UK bars before appointing advisory firm AlixPartners to find a buyer. No single buyer emerged for the whole company, which is what pushed the UK assets into pre-pack administration. On the day the deal was announced, BrewDog had also shuttered all its bars temporarily to sort out licensing complications tied to the ownership change.

Tilray's stated ambition with the combined BrewDog assets is substantial. According to industry reporting, the company is targeting a $500 million global craft beer and beverage platform, with the BrewDog acquisition expected to contribute around $200 million in annual net revenue. On a combined basis with its existing operations, Tilray projects annualized revenue of approximately $1.2 billion. Simon specifically called BrewDog "one of the most iconic, mission-driven craft beer brands in the UK" that "helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer."

For the craft beer community, the math here is significant: one of the most recognizable independent craft brands in the world is now, for all practical purposes, a Tilray property — Punk IPA and all.