Tilray Brands Secures Exclusive Multi-Year U.S. Brewing License With Carlsberg

Tilray Brands, Inc. (NASDAQ: TLRY; TSX: TLRY) announced an exclusive multi-year U.S. brewing and commercial licensing partnership with the Carlsberg Group to produce, market, sell and distribute Carlsberg®, Carlsberg Elephant®, 1664® and Kronenbourg 1664 Blanc® across all channels in the United States beginning Jan. 1, 2027. The agreement grants Tilray exclusive rights in the U.S. and is structured to start on that date.

The contract carries an initial five-year term beginning Jan. 1, 2027, with an automatic renewal for an additional five years subject to performance criteria. The companies did not disclose financial terms, royalty rates, minimum production commitments or the specific performance metrics that would trigger the five-year renewal.

Tilray said it will locally manufacture the Carlsberg-branded products using its U.S. brewing facilities and will leverage its sales and marketing team and national commercial organization to commercialize the brands at scale. 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, emphasized the operational fit, saying: “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.”

Market reaction to the announcement was immediate but muted; Finviz reported Tilray shares up roughly 0.93 percent in premarket trading on the day the deal was announced, and Benzinga noted shares were higher in premarket session activity. Major republishers carried the company release; one republished item explicitly identified the text as a paid press release.

The materials released by Tilray describe Carlsberg as “one of the world’s premier brewing organizations and among the largest globally by revenue,” and Tilray as “a leading global consumer packaged goods company and the fourth-largest craft beer brewer in the United States.” The statement frames the deal as a move to increase Carlsberg’s market share of premium and mainstream imported beers in the United States, which Tilray and partners noted is the world’s second-largest beer market.

Not included in the released materials were any on-record comments from Carlsberg executives, specifics on which Tilray U.S. facilities will brew the brands, or any capital expenditure or marketing-spend commitments. The license takes effect Jan. 1, 2027, and the initial five-year term with a performance-based automatic renewal remains the most concrete contractual detail currently available.