Tilray Brands targets $20M in cost savings after craft brewery closures

The Shock Top owner has reduced its SKU count and closed four facilities as it adapts to beverage industry shifts.

Tilray is streamlining its business as the craft beer market evolves and the company looks to capitalize on more profitable opportunities in premium and imported brews and non-beer options.

Since the beginning of 2025, Tilray has reduced its SKU count by about 28%. This included removing duplicative, lower-margin and “slower-moving” products, the company said in the release. Moving forward, CEO Irwin Simon said the company is looking to further reduce its operational capacity through additional consolidation of its distributor network.

“With a more efficient cost structure and additional volume opportunities ahead, we expect these actions to drive margin expansion and stronger earnings across our U.S. beverage operations, while creating greater flexibility to reinvest in our brands,” Simon said in a statement.

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