Tilray Brands Inc. (NASDAQ:TLRY) said Monday it has completed the acquisition of BrewDog Brewing Australia Pty Ltd., including its Brisbane brewery and several BrewDog bar locations across the country.

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The deal includes two owned bars in Brisbane — DogTap Brisbane and BrewDog Fortitude Valley — along with three franchised locations in Pentridge, South Eveleigh, and Perth.

Chairman and Chief Executive Officer Irwin D. Simon said the deal marks another step in Tilray’s strategy to expand its global beverage platform. “The acquisition of BrewDog’s profitable Australian brewery operations and flagship bars represents another important milestone in advancing Tilray’s global beverage and consumer products strategy,” Simon said.

He added that Australia’s strong craft beer culture and location make it a strategic gateway to the broader Asia-Pacific region. Simon also noted that, together with Tilray’s previously announced acquisition of BrewDog’s UK operations, the deal further expands the company’s international brewing footprint.

President of International Rajnish Ohri added that the Australian operations will serve as a hub to expand BrewDog’s retail presence and introduce Tilray’s broader beverage portfolio across the region, including Japan.

Tilray said the transaction supports its strategy to scale an international beverage portfolio spanning craft beer, spirits, energy drinks, water, and other emerging categories.

TLRY Price Action: Tilray Brands shares were down 3.68% at $6.94 at the time of publication on Monday, according to Benzinga Pro data.

Photo by T. Schneider via Shutterstock