Tilray buys US liquor company Breckenridge Distillery

Image copyright REUTERS Image caption Tilray owns a facility in Bakersfield, California, with a capacity of 32,000 kg per year

Tilray, the world’s largest medical marijuana producer, has bought Breckenridge Distillery, one of the largest liquor companies in the United States.

Cannabis supplied for six years through the Colorado-based company’s licensed cannabis cultivators.

It is believed the move will allow Tilray to produce cannabis-infused spirits and sells in the United States – a major market.

Tilray has also agreed to buy Eli Lilly’s hemp research company Brightfield Group, which specialises in developing cannabidiol (CBD) as an ingredient in medicines.

Following the purchase of the Des Moines, Iowa-based company, Tilray says its move into the cannabis spirits sector will become a significant business opportunity within a “dynamic and rapidly changing global legal marketplace”.

The purchase of Breckenridge is subject to regulatory approval and is expected to close by the end of October 2018.

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