Tilray Brands, Inc. (Tilray) operates as a leading global lifestyle consumer products company with operations in Canada, the United States, Europe, Australia, New Zealand and Latin America.
The company's high-quality consumer-connected house of brands include SweetWater Brewing, Montauk Brewing, Shock Top, 10 Barrell, Breckenridge Brewery, Blue Point Brewing, Breckenridge Distillery, Broken Coast, Good Supply, Redecan, Solei, Tilray, XMG and Manitoba Harvest. In the U.S., the company is the 5th...
Tilray Brands, Inc. (Tilray) operates as a leading global lifestyle consumer products company with operations in Canada, the United States, Europe, Australia, New Zealand and Latin America.
The company's high-quality consumer-connected house of brands include SweetWater Brewing, Montauk Brewing, Shock Top, 10 Barrell, Breckenridge Brewery, Blue Point Brewing, Breckenridge Distillery, Broken Coast, Good Supply, Redecan, Solei, Tilray, XMG and Manitoba Harvest. In the U.S., the company is the 5th largest craft brewer. In Canada, the company has the leading #1 market share in adult-use cannabis. Outside of North America, the company supplies high-quality consumer products in over 20 countries spanning five continents through its global subsidiaries, and through agreements with established distributors. The company's Manitoba Harvest business is a leader in the hemp-based food category.
Segments
The company operates through four segments: Cannabis Operations, Beverage Alcohol Operations, Distribution Operations, and Wellness Products.
Cannabis Operations
Cannabis Operations encompasses the production, distribution, sale, co-manufacturing and advisory services of both medical and adult-use cannabis.
Beverage Alcohol Operations
Beverage Alcohol Operations encompasses the production, marketing and sale of beverage alcohol products.
Distribution Operations
Distribution Operation encompasses the purchase and resale of pharmaceuticals products to customers.
Wellness Products
Wellness Products encompasses hemp foods and cannabidiol (CBD) products.
Strategy
The company's overall strategy is to leverage its brands, infrastructure, expertise and capabilities to drive revenue growth in the industries in which it competes, achieves industry-leading, profitability and build sustainable, long-term shareholder value. In order to ensure the long-term sustainable growth of the company, it continues to focus on developing strong capabilities in data analytics and consumer insights, in order to drive category management leadership and assess opportunities for the introduction of new categories, products and entries into new geographies.
The key elements of the company's strategy are to build global brands that lead in their respective industries by winning the hearts and minds of the company's consumers and patients; develop innovative products and form factors that change the way the world consumes cannabis; grow and leverage its investment in beverage and hemp-based food; and expand the availability of high quality, consistent medical cannabis products for patients around the world.
Beverage Segment
Brands and Products
The company is a major player in the craft alcohol and beverage business through its evolving portfolio and are the 5th largest craft brewery in the United States according to the Brewers Association. Through its evolution of product offerings and exciting new brands, the company's craft beverages establish a broad consumer appeal which has enabled strong distribution across the United States. The company also operates in the craft spirits businesses through Breckenridge Distillery, which was founded in 2008 as a small craft spirits brand in Breckenridge, Colorado but has since grown its award-winning bourbon whiskey collection and innovative craft spirits portfolio to be distributed in all 50 states in addition to owning two tasting rooms/retail shops and a world class restaurant.
The company's beverage alcohol brands include:
SweetWater - A craft brand with an award-winning lineup of year-round, seasonal and specialty beers under a portfolio of brands closely aligned with a cannabis lifestyle, which include the flagship 420 alcoholic beverage offerings, its SweetWater Spirits, a new collection of bright and refreshing ready-to-drink mixed cocktails in a can and the company's newest innovation SweetWater Gummies, a fruit forward 9.5% ABV of refreshing double IPA. The SweetWater product offerings, including Red White and Blue American Lager resonate across all consumer's that want to drink flavorful and refreshing products and that it will be a staple at backyard barbecues, tailgates, and get-togethers. The company also continues to be innovative with its 420 Strain G13 IPA, which plays a critical role in its portfolio and resonates as a cannabis lifestyle brand. SweetWater's various 420 strains of craft brews use plant-based terpenes and natural hemp flavors that, when combined with select hops, emulate the flavors and aromas of popular cannabis strains to appeal to a loyal consumer base.
Shock Top - An award winning traditional Belgian-style wheat ale that was originally introduced in 2006 as a seasonal offering. After taking home the gold medal at the North American Beer Awards in the Belgian White category, it became a year-round offering. Shock Top Belgian White is a spiced wheat ale brewed with coriander spice and the peels of three different citrus fruits: orange, lemon, and lime. This uniquely crafted ale is unfiltered to create a naturally cloudy brew with a light golden color and a smooth, refreshing finish.
Montauk - As the #1 craft brewer in Metro New York, Montauk is well-known for its beloved product portfolio, premium price point, and distribution across over 6,400 points of distribution. Wave Chaser IPA is a staple of Montauk and has expanded into Surf Beer, a Golden Ale, Tropical IPA, Juicy IPA and most recently NA IPA, a non-alcoholic offering. The company has also launched Project 4:20, a terpene flavored beer with earthy aromas, which is focused on giving back to local green charities. Montauk's brand reach has predominantly been in New York City, Long Island, and northern New Jersey, but has now been expanded into Connecticut, Rhode Island, Upstate New York, Pennsylvania and the remainder of New Jersey.
Blue Point Brewing Company -Blue Point has grown into one of the largest breweries in New York State, offering a lineup of easy-drinking and innovative craft beers. Its product portfolio includes Toasted Lager, Hoptical Illusion, Imperial Sunshine, as well as a rotating line of Innovation Beers. Blue Point has won numerous awards over the years that highlight the quality of innovation at forums such as the World Beer Cup, the Great American Beer Festival, the New York Craft Beer Competition, the Australian International Beer Awards, and the Atlantic City Beer Festival.
Breckenridge Distillery - A highly sought-after and award-winning brand widely known for its blended bourbon whiskey and its collection of artisanal spirits including vodka and gin that brings to life the best that Colorado has to offer. Breckenridge continues to be one of the most awarded craft distilleries in the U.S.
Breckenridge Brewery - The brand has grown into one of the most recognized craft breweries in the U.S. Today. Breckenridge Brewery has two locations to visit - the original brewpub in Breckenridge and its renowned Farm House restaurant in Littleton, CO, outside Denver. With a focus on balanced, approachable, and interesting beer, the brewery's portfolio includes Avalanche Amber Ale, Palisade Peach Wheat, Juice Drop Hazy IPA, Funslinger Lager, Vanilla Porter, Hop Peak IPA, Juice Drop Imperial Hazy IPA, Strawberry Sky, Mountain Beach Session Sour, Agave Wheat, Palisade Peach Light, Nitro Vanilla Porter, Nitro Irish Stout, and Christmas Ale (seasonal). In 2022, Breckenridge Agave Wheat won a Bronze medal in the American Wheat Beer category at the Great American Beer Festival.
Alpine Beer Company - An award-winning craft brand is rated a top 50 brand in the United States with highly-rated favorites including Nelson IPA and Duet IPA. The company recently launched Infinite Haze, a brilliant Hazy IPA bursting with endless aromas of citrus and sweet, tropical fruits which complement its existing product offerings that make up its highly acclaimed year-round lineup.
Green Flash - An award-winning, independently owned and operated craft brand to bring fresh ideas and a sense of adventure to craft beer. Green Flash delivers an eclectic lineup of specialty craft beers and distributes them throughout the west. The company's staple brand, West Coast IPA, as well as its newly launched Hazy West Coast IPA, continue to excite consumers across the west coast. Green Flash has created a variety 12-pack that takes the best of the west and the east to make an exciting and adventurous consumer experience.
Widmer Brothers Brewing -Widmer Brothers is one of the largest craft breweries in the Pacific Northwest. In 1986, Widmer Brothers introduced its Hefe beer, an American variant on the traditional Hefeweizen, which spread widely across the country. In the 2023 Best of Craft Beer Awards, Hefe won Gold in the American Wheat category and Widmer Brothers was awarded 'Large Brewery of the Year'. Its award-winning beers include Hefe, Drop Top Amber, Deadlift Imperial IPA, Hopcadia NW IPA, Cold Waters Cold IPA, Juicy Sunrise IPA, and Green Skies Hazy IPA.
10 Barrel Brewing Company - Oregon, 10 Barrel Brewing boasts an award-winning team of brewers and has four brewpub locations: Bend West (Bend, OR), Bend East (Bend, OR), Portland, OR and Boise, ID. 10 Barrel is one of the most acclaimed breweries in the U.S., winning a gold medal at the 2022 Great American Beer Festival in the Specialty Berliner-Style Weisse category and a bronze medal in the German Sour Ale Category. 10 Barrel is consistently a top medal winner at the Oregon Beer Awards. Its products include Apocalypse IPA, Nature Calls, Profuse Juice, Rock Hop IPA, All Ways Down, Club Tread Mandarin IPA, Pilsner, Pub Beer, and Cucumber Crush. 10 Barrel took home three Gold and one Silver medal at the 2023 World Beer Cup.
Redhook Brewery -Washington, Redhook is one of the nation's original craft breweries, crafting better beer since 1981. Four decades later, one thing has never changed-Redhook is still brewing great beers. Its award-winning beers include Big Ballard Imperial IPA, Hazy Big Ballard Imperial IPA, Tropical Big Ballard Imperial IPA, Storm Surge Hazy IPA, Lagersquatch Lager, and Long Hammer IPA. Redhook Brewlab opened in 2017 in the heart of Seattle's Capitol Hill neighborhood. It has an 8-barrel brewing system where consumers can taste the latest experiments. In 2023, Redhook launched its Big Ballard IPA Variety Pack, the industry's first Imperial Craft 18pk.
Square Mile Cider Company -Square Mile Cider offers ciders made with pure Pacific Northwest apples and lager yeast to create a perfectly crisp, clean, and semi-dry hard cider. Its offerings include Original Hard Cider, Rose Apple Cider, Peach Lemonade Cider, Raspberry Lemonade Cider, and Imperial Blackberry Pie.
HiBall Hardball - The HiBall brand has expanded from clean energy drinks to the innovative introduction of the company's refreshing Hiball Hardball coolers, which are set to launch in Fall 2024 and will feature Fruit Punch, Blue Raspberry and Pineapple flavors in a 16oz. resealable bottle.
Operations
In beverage alcohol, the company has diverse and expansive facilities across the U.S. which produce a balanced variety of year-round and seasonal specialty craft brews under its 12 craft beverage brands. Specifically, the company has 6 production facilities across the U.S.: Atlanta, GA, Fort Collins, CO, Portland, OR, Bend, OR, Littleton, CO and Patchogue, NY and 11 vibrant brewpubs for its curated brand portfolio. Through the continued expansion of the company's operational footprint, it has also broadened its production capabilities to include ciders, seltzers, non-alcoholic and functional beverages. Additionally, Breckenridge Distillery, the world's highest distillery, located in Breckenridge, Colorado is where the company's award-winning craft spirits are produced.
Distribution
In the U.S., the company's beverage alcohol brands are distributed under a three-tier model. Tilray's beer portfolio is distributed in all 50 states by over 500 distributors, of which 75% of which belong to the Anheuser-Busch network, 20% belong to the Molson Coors network and the remaining 5% are other distributors, with brand strongholds in the Pacific Northwest, Southwest, Southeast, and Northeast. The company's distribution points include off-premises retail locations ranging from independent bottle shops to national chains. Additionally, the company's significant on-premises business allows consumers to enjoy its brands in more than 30,000 restaurants and bars.
In addition to its traditional distribution footprint, the company's brands can be found in airports and sports venues across the U.S. with branded taprooms in John F. Kennedy International Airport and Long Island MacArthur Airport in Long Island, New York, Hartsfield-Jackson Atlanta International Airport, and Denver International Airport, and partnerships with the New York Mets, Denver Nuggets, Atlanta United, University of Florida, the Portland Timbers, University of Colorado, Denver state and University of Washington among others. The company's brands can also be found aboard all Delta Airline Flights nationwide and internationally. Additionally, the company has developed a strong international presence with its craft beers and spirits being distributed across Europe, Asia and Australia as well as and aboard international cruise lines.
Consistent with its distribution strategy, the company's craft spirit brands from Breckenridge Distillery are distributed in all 50 states, and in two on-premises tasting and retail store locations. In addition to its traditional distribution, Breckenridge Distillery is the official bourbon and vodka sponsor of the Denver Broncos. Breckenridge is also distributed in 8 different countries, including Canada, Germany, the U.K., Macau, Australia, New Zealand, and Singapore, with the intention of further expanding its international distribution.
Acquisitions
On June 22, 2023, the company acquired HEXO Corp. (HEXO), a cannabis company in Canada (the HEXO Acquisition).
On August 3, 2023, the company acquired the remaining 57.5% equity interest in Truss Beverage Co. (Truss), a cannabis beverage company, from Molson Coors Canada (Molson).
On September 29, 2023, the company acquired a portfolio of brands, assets and businesses comprising eight beer and beverage brands from AB including breweries and brewpubs associated with them (the Craft Acquisition). The acquired businesses/brands included Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall.
Regulatory Environment
To operate its production facilities, the company must obtain and maintain numerous permits, licenses and approvals from various governmental agencies, including but not limited to, the Alcohol and Tobacco Tax and Trade Bureau (the TTB), the Food and Drug Administration (FDA), state alcohol regulatory agencies and state and federal environmental agencies. The company's brewery and distillery operations are subject to audit and inspection by the TTB at any time.
Cannabis Segment
Brands and Products
Medical Cannabis Brands
The company supplies high-quality medical cannabis products to over 100,000 patients spanning five continents through its global subsidiaries, and through agreements with established pharmaceutical distributors. Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, Symbios, Navcora, Charlotte's WebTM, as well as select adult-use brands. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe; in Portugal and Germany. Tilray Medical is one of the largest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers and governments in countries spanning across five continents. The company's medical cannabis brands consist of:
Tilray - The Tilray brand is a medical cannabis brand designed for prescribers and patients in the global medical market by offering a wide range of consistent high-quality, pharmaceutical-grade medical cannabis and cannabinoid-based products. Patients and prescribers choose the Tilray brand because of the company's rigorous quality standards and the brand is a trusted, scientific based brand known for its medical-grade products. In Canada, Tilray has also partnered with Indiva to carry a wider array of product offerings, specifically in the edibles category, through its medical platform to better serve the interests of the company's patients.
Aphria- Since 2014, the Aphria brand is a leading, trusted choice for Canadian patients seeking high quality pharmaceutical-grade medical cannabis. The Aphria brand continues to be a leading brand in Canada.
Broken Coast - Medical cannabis products under the Broken Coast brand are grown in small batches in single-strain rooms, with a commitment to product quality in order to meet the company's Canadian patient expectations. During the year-ended May 31, 2024, the company completed its first shipment of Broken Coast product to Australia where the trusted reputation and stringent quality of its medical cannabis products and continues to expand its product offerings.
Symbios - Symbios was developed to provide Canadian patients with a broader spectrum of formats and unique cannabinoid ratios at a better price point while offering a full comprehensive assortment of products, including flower, oils, and pre-rolls.
Navcora - Navcora is dedicated to making pharmaceutical grade cannabis more accessible in the German market.
Charlotte's Web - Last year, the company entered into a strategic alliance which includes licensing, manufacturing, quality, marketing and distribution for Charlotte's Web CBD hemp extract products in Canada. For the first time, Canadians had the ease of nationwide availability of Charlotte's Web full spectrum CBD products through Tilray's medical cannabis distribution network.
Tilray Medical is a leading provider of European Union Good Manufacturing Practices (EU-GMP) certified medical cannabis products with a comprehensive portfolio of tetrahydrocannabinol (THC) and cannabidiol (CBD) products, each with a unique profile of cannabinoids and terpenes. Each medical cannabis product that Tilray offers has been selected to ensure patients can receive both the highest product quality as well as consistency when it comes to supply of their medicinal cannabis products.
Adult-Use Cannabis Brands
The company's portfolio of brands, developed for consumers across broad demographics and targeted segments, remains unmatched in the industry. With a focus on brand building, innovation, loyalty and conversion, the company seeks to drive growth with its differentiated portfolio of brands and products, both in sales and market share across categories. The company is investing capital and resources to establish a leadership position in the adult-use market in Canada. These investments are focused on building its brands with consumers through product innovation, distribution, trade marketing and cannabis education. The company's strategy is to develop a brand focused portfolio that resonates with consumers in all category segments.
The company is positioned to grow its adult-use brand portfolio to specifically meet the needs and preferences of different consumer segments of the adult-use cannabis market. The company leverages its selection of strains to offer each consumer segment a different experience through its product and terpene profiles, while also focusing on the value proposition for each of these segments as it relates to price, potency and product assortment.
Each brand is unique to a specific consumer segment and designed to meet the needs of these targeted segments, as described below. The company's portfolio of brands and products and its marketing activities have been carefully curated and structured to enable it to develop and promote its brands and product lines in an effective and compliant manner. The company continues to develop additional brands and new products, such as edibles and beverages, with more innovative products in its pipeline. The company's brand portfolio consists of the following:
Economy Brands
Bake Sale: Unlock culinary creativity with Bake Sale's perfect balance of potency and affordability. Whether you're crafting in the kitchen or sparking up, Bake Sale delivers delectable cannabis experiences that won't break the bank.
Value Brands
Good Supply: Good Supply offers feel good highs for the stoner in everyone. Consistent, dependable and readily available in classic, innovative and novel formats.
Original Stash: Keep it real with Original Stash - staying true to the essence of the cannabis culture. Crafted with care and priced just right, the company's high-quality weed embodies the OG spirit. It's all about enjoying the pure thrill of toking without draining your wallet. No fuss, just quality bud.
Mainstream Brands
Redecan: Quality cannabis starts with how it's made. No shortcuts, no excuses. Redecan was founded on the belief in quality at every stage. With a purpose-built facility and hand-trimmed buds, Redecan delivers on its promise of excellence.
Canaca: Canaca brings Canadian inspiration to the company's technically innovative cannabis products that are potently Canadian and crafted for intensity. Prepare for your senses to be thrilled from the untamed flavors and aromas of its ultra-potent and pure products, for a homegrown experience that's beautiful to behold - just like the country the company calls home.
RIFF: RIFF loves a joint effort. The company collaborates with growers and the hottest creatives in its communities to bring you that fire. It's all about celebrating the joy of connecting with others and encouraging the company's community to create something meaningful. The company strives to elevate the standard for cannabis in Canada, 'cause if it's not expertly grown, crafted or made - it's not worth being on the shelf.
Hexo: Experience the essence of Quebec with HEXO's greenhouse-grown cannabis. Cultivated amidst the lush landscapes of Quebec, the company's buds embody the region's rich heritage and natural beauty.
Solei: Intentionally elevate your mind and body with Solei. With thoughtfully designed cannabis products, you can curate sensorial experiences based on what you need, when you need it, entirely on your terms. Let us be your well-being guide in innovative formats, featuring varied and rare cannabinoids, curated to allow you to easily fine-tune your wellness routines.
XMG: XMG is the #1 cannabis beverage brand in Canada focused on delivering high intensity and full flavor. Every beverage is maxed out at 10mg of nano-emulsified THC for a powerful and fast-acting experience. XMG is bold and unapologetic - the company's mission is to be straight-up, bold, and rebellious in creating beverages that are unique, intense, and fun. With multiple product lines ranging from XMG+, with naturally occurring caffeine, to XMG Zero, with zero calories and zero sugar, and a range of flavors across nostalgic sodas and refreshing fruit flavors, there's something for everyone and every occasion.
Mollo: Mollo was one of the first cannabis-infused beverages launched in the Canadian market and continues to be a top five beverage brand nationally. Mollo is dedicated to crafting beverages for every social occasion and to offer Canadians healthier alternatives to alcohol-based beverages. Mollo is inviting, easygoing, and confident in helping consumers slow down and take it all in where chilling and connecting are the focus. Mollo 10 continues to be the top beer-analogue cannabis-infused beverage in the market, and Mollo has launched Ciders and Seltzers so that Canadians can have a variety of non-alcoholic options for every season and celebration!
Chowie Wowie: At Chowie Wowie, the company thinks edibles should be fun, safe, tasty and consistent - and most importantly, enjoyed with friends. That's why it makes delicious edibles portioned for super shareability with consistent and reliable dosing.
Premium Brands
Broken Coast: Broken Coast is a heritage cannabis brand widely recognized for setting the standard for craft cannabis in Canada. The company is relentlessly dedicated to producing the ultimate expression of craft cannabis by using proprietary growing practices in bespoke growing conditions for each cultivar that it diligently phenohunts. This means all the company's craft cannabis is grown indoors in small-batch, strain-specific rooms, then is slowly hang cured before being hand trimmed.
Operations
Through its cannabis reporting segment, the company has invested in state-of-the-art facilities and infrastructure, and that it maintains some of the highest-quality, lowest cost cannabis production operations in Canada, with the scale and distribution network that differentiates the company from its competitors in the industry. The company also made significant investments in its operations within Europe and it is well-positioned to pursue international growth opportunities with its strong medical cannabis brands, distribution network in Germany, and end-to-end European Union Good Manufacturing Practices (EU-GMP) supply chain, which includes EU-GMP production facilities in Portugal and Germany. The company seeks to continue to invest in the expansion of its global supply chain to address the unmet needs of patients around the world.
The company maintains key international operations in Portugal, Germany, Poland, Italy, United Kingdom, Australia, New Zealand and Argentina.
Distribution
Canadian Adult-use Market
Under the Canadian legislative regime, provincial, territorial and municipal governments have the authority to prescribe regulations regarding retail and distribution of adult-use cannabis. As such, the distribution model for adult-use cannabis is prescribed by provincial regulations and differs from province to province. Some provinces utilize government run retailers, while others utilize government-licensed private retailers, and some a combination of the two. All of the company's adult-use sales are conducted according to the applicable provincial and territorial legislation and through applicable local agencies.
Through the company's subsidiaries, Aphria and High Park Holdings Ltd. (High Park), it maintains supply agreements for adult-use cannabis with all the provinces and territories in Canada.
Tilray is party to a distribution agreements with Great North Distributors and Northern Elements to provide sales force and wholesale/retail channel expertise required to efficiently distribute the company's adult-use products through each of the provincial/territorial cannabis control agencies, excluding Quebec. The company also engages Rose Life Sciences Ltd. as the company's sale agent exclusively for the Province of Quebec, representing its entire brand portfolio.
Canadian Medical Market
In Canada, Tilray Medical operates a direct to patient distribution model and online platform for patients to effectively and efficiently manage the process of registering and ordering medical products from Tilray Medical's full portfolio of medical brands including Tilray, Aphria, Broken Coast, Symbios, Navcora, Charlotte's Web, as well as selected adult-use brands.
International Medical Markets
Tilray Medical offers broad access to medical cannabis products in legal medical markets across Europe, Australia, New Zealand and Latin America. The company's global portfolio of medical cannabis products includes high-quality, GMP-certified flower and extracts. Through the company's various subsidiaries and partnerships with distributors, its medical products are available to patients on 5 continents, which include the following international distribution channels:
CC Pharma, the company's wholly-owned subsidiary, is a leading importer and distributor of pharmaceuticals for the German market and it is leveraging its distribution network in Germany for medical cannabis.
The company's products are also distributed by multiple wholesalers and directly to pharmacies in Germany.
In Argentina, ABP, S.A., the company's wholly-owned subsidiary, distributes medical cannabis throughout Argentina under the Argentinian 'Compassionate Use' national law, which allows patients with refractory epilepsy, holding a medical prescription from a neurologist, to apply for special access to imported medical cannabis products.
Wholesale
In Canada, the company is authorized to sell wholesale bulk and finished cannabis products to other licensees under the Cannabis Regulations. The bulk wholesale sales and distribution channel requires minimal selling, administrative, and fulfillment costs. The company's focus on the right strain assortment, quality of flower, extraction capabilities and processing, enables it to drive wholesale channel opportunities for revenue growth.
Distribution Segment
Business
CC Pharma GmbH is today one of the leading drug importers in Germany. It specializes in the re-importation and parallel importation of European pharmaceuticals, providing the healthcare market with branded medicines in a more cost-effective manner. This serves a socially and economically responsible supply of medicines, to which the company has been committed for over 25 years. The company imports pharmaceuticals and make them fit for exclusive distribution in the German market. By supplying its services as a pharmaceutical importer, the company actively contributes to reducing the costs of medicinal products within the scope of healthcare policy.
Customers and Product Lines
The company's customers include public pharmacies, hospital pharmacies, and specialized pharmacies as well as pharmaceutical wholesalers. Distributing roughly 1,200 product lines, the company offers a wide range of medicinal productions for different indications, including anti-rheumatic, oncology, and HIV prescription drugs.
Regulatory Environment
Reliable quality assurance is a top priority at CC Pharma. The basis of the company's quality management are the legal regulations, especially the GDP and Good Manufacturing Practices (GMP) guidelines. The company uses the latest technological means and qualified personnel to continuously improve its company processes.
Wellness Segment
Brands and Products
The company's Tilray Wellness segment primarily consists of the Manitoba Harvest branded hemp-based food business, which develops, manufactures, markets and distributes a diverse portfolio of hemp-based food and wellness products under various brands, which include Manitoba Harvest, Hemp Yeah!, and Just Hemp Foods. Manitoba Harvest products are sold in major retailers across the U.S. and Canada. Tilray Wellness also manufactures, markets, and distributes wellness beverages, including HiBall Energy and Happy Flower. HiBall Energy was acquired through the Craft acquisition and is made with zero sugar, zero calories, and organic caffeine. HiBall's products have included Grapefruit, Watermelon Mint, Wild Berry, Blackberry, and Vanilla - all crafted with a proprietary energy blend, consisting of caffeine, guarana, and ginseng. Happy Flower is a line of hemp-based cannabinoid infused beverages with further future possible potential in HD-D9 (hemp-derived Delta 9) THC beverage formulations.
Operations
In the company's Wellness segment, it owns two BRC accredited facilities located in Manitoba, Canada that are dedicated to hemp processing and packaging Manitoba Harvest, Just Hemp Foods, and Hemp Yeah! branded products and private label products including hulled hemp seeds, hemp oil, and hemp protein.
Distribution
The company's wellness sales consist of hemp and other hemp-based food products, which are sold to retailers, wholesalers, and direct to consumers. The company is a leading provider of hemp seeds and related food products that are sold in over 21,000 retail locations in the United States and Canada and available globally in 18 countries.
Seasonality
The company's sales of craft beer and spirits generally reflect a degree of seasonality, with comparatively higher sales in the summer and the winter holiday season. Typically, the demand for cannabis and hemp-based products is fairly consistent throughout the calendar year (year ended May 31, 2024).
Research and Development
The company's research and development costs were $0.6 million in the year ended May 31, 2024.
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