Samsung, SK Hynix to Unveil Record AI and Semiconductor Investment Plans Worth Over $646 Billion 
Kioxia Targets U.S. Listing as AI Chip Boom Accelerates 
China Eastern Orders 25 Airbus A330neo Jets in $9.35 Billion Deal to Boost International Expansion 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
Pelosi Discloses Major Intel and Uber Call Option Purchases Worth Up to $6 Million 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Bayer Wins Major U.S. Supreme Court Roundup Lawsuit, Shares Surge 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism 
US Judge Seeks Explanation for DOJ’s Decision to Drop Gautam Adani Bribery Case 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
In a surprising twist, Tilray Brands Inc., a prominent cannabis company, buys eight iconic brewery brands from Anheuser-Busch. This move follows declining sales for the beer giant, making Tilray the nation's fifth-largest craft beer company.
The sale announcement came after Anheuser-Busch continued to experience a decline in sales following the drama involving its Bud Light beer. The St. Louis, Missouri-headquartered brewing company has reached a deal to sell eight of its brands, including those it acquired in the last decade.
Anheuser-Busch is set to transfer ownership of its Shock Top, Breckenridge Brewery, Blue Point Brewing Company, Redhook Brewery, Widmer Brothers Brewing, 10 Barrel Brewing Company of Bend, and Square Mile Cider Company to the New York-based group that sells cannabis lifestyle products and packaged goods. The Bud Light maker will also divest its HiBall Energy brand, the San Francisco-based energy drink producer.
Anheuser-Busch nor Tilray did not reveal the financial aspect and other terms of their acquisition deal, but the buyer is paying in all cash, with the deal expected to close this year. Moreover, it was agreed that the existing employees, brewpubs, and breweries associated with the sold brands are all included in the transfer of ownership. With the purchase, the latter is set to become the fifth-largest craft beer company in the country, moving up from ninth place.
"Tilray Brands reached out to us early this year with interest in purchasing these brands and breweries, and since then, we've had many positive conversations that led to today's announcement," Anheuser-Busch's The High End's president, Andy Thomas, said in a press release. "We are committed to working with Tilray Brands over the coming months to ensure this is a smooth transition for the people who are working every day to get these amazing beers and beverages to consumers across the U.S."
Photo by: Philip Leara/Flickr(CC0 1.0)
