Conglomerates upload and offload brands and businesses all the time, but selling is typically only something you do if the price is right or you need to hedge some bad bets. I’m not sure which this is, but post-Bud Man replacement Mulvaney, it looks bad for AB.
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 is expected to be finalized in Sept. 2023 for $85 million, according to a Tilray 8-K filing.
In addition to the beer brands, Anheuser-Busch will also be selling off the brands’ employees, breweries and associated brewpubs.
Fat trimming or opportunism, you decide. Bud Light has taken a beating, but Mulvaney has yet to do as much damage to the stock price as COVID. The Orange arrow is the drop at the beginning of COVID, and the purple arrow is where the price was before Mulvaney struck.
Mulvaney has yet to drive the price down to April 2020 levels, but the boycott has clearly had an impact on business. And while people got over COVID, bud drinkers seem less inclined to get over Muvalney – whose sin, in case you forgot, was being a spokesmodel for women when there are more than four billion actual women who could have done that job.
Most of the #woke actors responsible have been shown the door but at the expense of a lot of working-class folks from bottlers to distributors who got “canned” because some stooge for the social justice narrative thought it would be a good idea to represent women with prancing doofus.
Mulvaney has since fled to Peru to commune with Llamas.
Hey, maybe BUD should replace the Clydesdales with some Alpaca. Lose the Dalmatian and replace it with one of those purse-sized dogs. How much worse could it get?
HT | Daily Wire
