Tilray Acquires Montauk Brewing Company

Company aims to strengthen U.S. CPG business before federal THC legalization.

Tilray Brands, Inc. has acquired New York-based Montauk Brewing Company.

Montauk Brewing is known for its product portfolio, premium price point, and availability across more than 6,400 points of distribution, including retailers such as Target, Whole Foods, Trader Joe’s, Stop & Shop, King Kullen, Walmart, 7-Eleven, Costco, BJ’s, and Speedway.

Montauk Brewing joins Tilray’s growing U.S. alcohol segment, which already includes SweetWater Brewing Company, the Alpine and Green Flash brands, and its bourbon and spirits brand, Breckenridge Distillery.

To fully optimize the value and strength of its U.S. craft beer portfolio, Tilray has also appointed veteran beer and beverage industry executive Ty H. Gilmore as president of its U.S. beer business, a newly created position. Gilmore joins Tilray from Glazer’s Beer and Beverage, where he had served since 2020 as executive vice president, overseeing sales, marketing and operations across 11 distributors in the south. Prior to that, he spent the majority of his career at Diageo, in positions of increasing seniority, including seven years leading national accounts.

"Tilray Brands continues to strengthen our U.S. footprint and operations through investments in and growing our portfolio of leading lifestyle CPG brands that resonate powerfully with consumers,” said Irwin D. Simon, Tilray chairman and CEO. “Montauk Brewing is an iconic brand with leading market share and distribution in the Northeast. Tilray Brands intends to leverage SweetWater’s existing nationwide infrastructure and Montauk Brewing’s Northeast influence to significantly expand our distribution network and drive profitable growth in our beverage-alcohol segment. This distribution network is part of Tilray’s strategy to leverage our growing portfolio of U.S. CPG brands and ultimately to launch THC-based product adjacencies upon federal legalization in the U.S. We are excited to welcome Montauk Brewing’s founders, Vaughan Cutillo and Eric Moss, as well as Terry Hopper, Montauk Brewing’s general manager, to the Tilray Brands family, and I look forward to working closely with Ty Gilmore to maximize the performance of our enormously powerful craft and lifestyle beverage brand portfolio.”

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Alyse Thompson-Richards has held many positions with BNP Media, first serving as an intern at Candy Industry Magazine in summer 2012. She joined Candy Industry's staff full time as associate editor in August 2016 after a few years at newspapers in West-Central Illinois, becoming managing editor in March 2019. Alyse has also served on Cannabis Products Insider since March 2019. She has bachelor’s degrees in journalism and Spanish from Western Illinois University.