Tilray Brands will cease brewing at Terrapin Beer Co.’s 100,000 sq. ft. facility in Athen’s, Ga. The brand will shift production to other plants within its network starting Sept. 25, though the site’s taproom and warehouse will remain in operation, according to a report from The Red & Black.
The move is part of a larger consolidation plan for Tilray Brands, a Canada-based producer of cannabis and beverage goods, in the aim of increasing efficiency across its breweries. In a 10-K filing from July 28, Tilray looped Terrapin, along with its other beer brands like Hop Valley, Redhook, and Revolver, into a cost-cutting initiative called Project 420.
Tilray disclosed it spent $6.8 million in Project 420 restructuring costs in fiscal year 2026, which ended May 31. The company anticipates the closures, consolidations, and other restructurings will be largely completed by the end of fiscal 2027.
While many players in the craft industry, both big and small, have struggled or shuttered over the past few years, Tilray has notably invested big in the industry. The company scooped up eight brands from Anheuser-Busch InBev in 2023 and four brands from Molson Coors, including Terrapin, in 2024. Earlier this year, Tilray bought BrewDog for $44 million and inked a deal with the Carlsberg Group to produce, market, and sell the Danish beer in the U.S.
The beverage business remains “one of Tilray’s most important growth engines,” CEO Irwin Simon said in an earnings call. And Simon suggests the company is still in the “early stages of unlocking full potential of this business.” In fiscal year 2026, Tilray earned $254 million in beverage net revenue, a jump from the previous fiscal year’s $240.6 million net revenue.
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