Tilray Brands has recently announced that it had acquired the remaining 57.5% stake it did not own in cannabis-infused drinks maker Truss Beverage from Molson Coors, as the pot firm seeks to broaden its customer base.
The company's chief executive officer, Irwin Simon, last month told Reuters Tilray was actively seeking strategic acquisitions in the spirits and beverages industry.
Tilray said the acquisition would strengthen its market position and streamline sales and distribution.
Earlier this month, the company said it would acquire eight beer and beverage brands from Anheuser-Busch for $85 million.
Molson Coors Beverage on Tuesday raised its annual sales and profit forecasts, boosted by strong demand for its core brands Miller Lite and Coors Light.
Up Beat Results
In August the brewer joined rivals Anheuser-Busch InBev, Brown-Forman and Constellation Brands that have recently posted upbeat results, supported by higher pricing and steady demand for alcoholic beverages.
For the Americas segment, Molson Coors' net sales rose 10.7% in the second quarter as it shipped more premium beers.
'The increase in US volume was impacted by a shift in consumer purchasing behaviour largely within the premium segment,' the company noted.