Anheuser-Busch InBev (AB InBev), the parent company of Bud Light, continues to collapse in the wake of backlash. AB InBev has decided to sell eight of its craft beer brands to Tilray Brands, a significant move that considerably shrinks AB InBev’s craft beer portfolio.
Specifically, “Tilray, a Canadian cannabis company, will be purchasing Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company and Hiball Energy.” The deal, set at a price of $85 million, is anticipated to be sealed by September 2023.
It doesn’t stop at the beer brands. Anheuser-Busch is also “selling off the brands’ employees, breweries and associated brewpubs,” signifying a comprehensive exit from these brand assets.
The downfall of Anheuser-Busch is not a sudden incident. Following the backlash from the fiasco with transgender influencer Dylan Mulvaney, the brand, especially Bud Light and Budweiser, has been on a downward spiral.