Tilray Lands Exclusive U.S. License for Carlsberg Beers

Exclusive deal to produce, market, and distribute Carlsberg's premium beer brands in the U.S. starting in 2027.

Published on Feb. 21, 2026

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Tilray Brands, Inc. has entered into an exclusive licensing agreement with the Carlsberg Group to produce, market, sell, and distribute Carlsberg, Carlsberg Elephant, 1664, and Kronenbourg 1664 Blanc branded beers across all channels in the United States, beginning January 1, 2027. The agreement has an initial five-year term, with an automatic renewal for an additional five years subject to performance criteria.

Why it matters

This partnership strengthens Tilray's position as a scaled, diversified beverage platform by adding globally recognized Carlsberg beer brands to its U.S. portfolio. It is expected to drive volume growth, expand shelf presence, and accelerate revenue for Tilray in the world's second-largest beer market.

The details

Under the terms of the agreement, Tilray will leverage its brewing facilities, sales and marketing team, and commercial expertise in the U.S. to locally manufacture and increase Carlsberg's market share of premium and mainstream imported beers within the U.S. The partnership is expected to deliver immediate scale and revenue accretion upon contract commencement, as the Carlsberg portfolio is expected to drive volume growth, expand shelf presence, and accelerate revenue.

  • The agreement has an initial five-year term, with an automatic renewal for an additional five years subject to performance criteria.
  • The partnership will commence on January 1, 2027.

The players

Tilray Brands, Inc.

A leading global consumer packaged goods company and the fourth-largest craft beer brewer in the United States.

Carlsberg Group

One of the world's leading brewing companies, with a broad portfolio of beer and beverage brands. The company employs more than 37,000 people, has breweries in more than 30 countries and has a presence in more than 150 markets worldwide.

Irwin D. Simon

Chairman and Chief Executive Officer of Tilray Brands.

Prinz Pinakatt

Chief Growth Officer of Tilray Beverages.

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What they’re saying

“This partnership brings together two highly complementary organizations and underscores the strength of Tilray's beverage platform. By combining Carlsberg's iconic global brands and proven brewing heritage with Tilray Beverages' U.S. operational scale, quality standards, and national commercial team, we are well positioned to expand Carlsberg's presence in the premium European segment and drive long-term growth in the U.S. beer market. Beer is here to stay, and this agreement reinforces our strategy of partnering with best-in-class brands and maximizing the value of our beverage operations.”

— Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands (stocktitan.net)

“Carlsberg's portfolio aligns well with Tilray Beverages' expanding platform. Our established capability to brew at scale, build brand equity, and commercialize effectively throughout the U.S. makes us an ideal partner to support Carlsberg's growth objectives. We are excited about the potential to create significant long-term value for both companies.”

— Prinz Pinakatt, Chief Growth Officer of Tilray Beverages (stocktitan.net)

What’s next

The agreement has an initial five-year term, with an automatic renewal for an additional five years subject to performance criteria.

The takeaway

This exclusive partnership between Tilray and Carlsberg will strengthen Tilray's position as a leading diversified beverage platform in the U.S. market, leveraging Carlsberg's iconic global brands and Tilray's operational expertise to drive growth in the premium European beer segment.