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Cannabis company Tilray buys Breckenridge Distillery in move to grow U.S. business

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TORONTO — Cannabis company Tilray Inc. says it has signed a deal to buy Breckenridge Distillery, a Colorado-based producer of whiskey and other spirits.

Financial terms of the agreement were not immediately available.

Founded in 2008, Tilray said the Breckenridge Distillery is known for its blended bourbon whiskey, a high-rye mash American-style whiskey.

Tilray already owns SweetWater Brewing Co. in the U.S.

The company said the Breckenridge deal helps grow its business with infrastructure and a larger footprint in the U.S. market where it hopes the federal government will ease its prohibitions on recreational cannabis.

It said once it becomes permissible it believes Breckenridge will help it develop non-alcoholic distilled spirits that are infused with cannabis.

This report by The Canadian Press was first published Dec. 8, 2021.

Companies in this story: (TSX:TLRY)

The Canadian Press