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BRECKENRIDGE, Colo. - Breckenridge Distillery has appointed Winebow as its new distributor for the California market, according to a press release issued Wednesday. The award-winning craft distillery, owned by Tilray Brands, Inc. (NASDAQ:TLRY; TSX:TLRY), will have its full spirits collection managed by Winebow across the state. Tilray, currently trading at $1.25 with a market capitalization of $1.37 billion, has shown remarkable momentum with an 83% price surge over the past six months. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value.
The distribution agreement covers Breckenridge’s entire product line, including its bourbon whiskey, rum, vodka, gin, and recently launched tequila. Winebow will leverage its existing Benicia facility and regional relationships to support logistics, sales coverage, and retail activation throughout California. This expansion comes as Tilray maintains annual revenues of $821.31 million and operates with a moderate debt level, according to recent financial data.
"This collaboration builds upon a longstanding and highly valued relationship," said Michael Horan, Breckenridge Distillery Executive Vice President of Sales. "We hold Winebow in the highest regard and deeply respect their go-to-market strategies, which align closely with our vision for growth."
Founded in Colorado in 2008, Breckenridge Distillery markets itself as the "World’s Highest Distillery" and has received multiple industry awards. The company’s recent accolades include its Port Cask Finish being named World’s Best Finished Bourbon at the 2024 World Whiskies Awards.
Breckenridge Distillery operates a visitor attraction at its Colorado facility, offering dining, cocktails, tastings, and production tours. The company also provides guests with opportunities to blend their own whiskey while learning about production processes.
The distribution change represents a strategic move to strengthen Breckenridge’s position in the California market, according to the company’s statement. For investors seeking deeper insights into Tilray’s financial health and growth prospects, InvestingPro offers exclusive analysis through its comprehensive Pro Research Report, available alongside 12+ actionable investment tips for the company.
In other recent news, Tilray Brands Inc. has been navigating several significant developments. The company has applied for an extension to regain compliance with Nasdaq’s minimum share price requirements, as its stock has been trading below the $1 minimum required for continued listing. To address this, Tilray is considering options such as a potential stockholder-approved reverse stock split. In a related move, Jefferies has raised its price target for Tilray from $1.50 to $2.00, maintaining a Buy rating. This adjustment reflects Jefferies’ perspective on the potential rescheduling of cannabis in the United States, which could benefit Tilray. Additionally, Tilray’s stock saw a notable increase of 17.7% amid broader market movements following reports that President Trump is considering reclassifying marijuana as a less dangerous substance. These recent developments highlight the dynamic environment in which Tilray is operating.
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