- CEO:Brendan Kennedy
Tilray (NASDAQ:TLRY) Stock Price
Tilray (NASDAQ:TLRY) Company Overview
Tilray Inc (NASDAQ:TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids, and currently serves tens of thousands of patients and consumers, in 13 countries spanning five continents. The company operates an asset-light model, meaning that it prefers to spend its capital further down the value chain.
And the further down the value chain you go, the closer you come to the brands and consumers. And for Tilray it's all about the brands. The company is brand-centric across both its medicinal and recreational cannabis markets.
Tilray made history in September 2018, when it became the first Canadian cannabis company to legally export medical cannabis to the U.S. for a clinical trial. Its medicinal brands are now imported into 13 countries with that number set to double in the coming 24 months.
The company has gone from strength to strength, and last year signed a deal with Novartis AG's subsidiary Sandoz to sell, distribute and co-brand Tilray's non-smokeable/non-combustible medical cannabis products in medicinally legal markets worldwide.
In order to take advantage of Canada becoming only the second country in the world to legalise cannabis for adult-use, TLRY announced the launch of the High Park Company – a recreationally-focussed company supplying various brands and form factors in the market.
High Park in a joint venture with AB InBev, founded Fluent, which will target the cannabis beverages market – one that has great excitement and optimism associated with it. Tilray also did a deal with the Authentic Brands Group (ABG) whereby they become the exclusive supplier of CBD-derived and infused products, which can then be distributed through the various brands in the ABG's portfolio.
Tilray's European base is in Portugal where they have a 2.5 million square foot facility that will be their production hub for the distribution of their product into Europe and globally. Tilray also recently partnered with Cannamedical Pharma GmbH, through its wholly-owned subsidiary, Tilray Portugal, to export a wholesale shipment of USD$3.3 million worth of medical cannabis from Portugal to Germany.
Tilray opened the US up with its acquisition of Manitoba Harvest, a hemp food company, that supplies nearly 70% of the US's hemp food. This acquisition gave them immediate access to 13,500 retail outlets across the US, including Walmart and Costco. Tilray has now launched a hemp-derived CBD range that will be distributed through the Manitoba network.
- Address:1100 Maughan Road, Nanaimo, BC V9X IJ2, Canada
Tilray (NASDAQ:TLRY) Financials
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Mr. Kennedy served as Chief Executive Officer of Privateer Holdings from its founding until June 2018. Prior to founding Privateer Holdings, Mr. Kennedy served as the Chief Operating Officer of Silicon Valley Bank Analytics from 2010 to 2011 and Managing Director from 2006 to 2010. Mr. Kennedy holds a BA from the University of California, Berkeley, an MS in Engineering from the University of Washington and an MBA from the Yale School of Management.
From October 2007 to March 2008, Mr. Castaneda served as the Chief Financial Officer for Tecta America, a private national roofing contractor, and from October 2004 to August 2006, he served as Chief Financial Officer for Pike Electric Corporation, a publicly-traded energy solutions provider, where he helped lead its initial public offering in July 2005.
Mr. Castaneda began his career with Deloitte & Touche in 1988 and is a certified public accountant. Mr. Castaneda has served on the Audit Committee of Ranir Global Holdings since August 2016. Mr. Castaneda holds a BS in Accountancy and a Masters, Taxation from DePaul University.
Previously, he was a member of Goldman Sachs’ Global Healthcare Investment Banking Group in New York, where he advised on more than $200 billion in announced M&A and financing transactions, with a focus on the biopharmaceutical sector.
Andrew leads Tilray’s corporate development function, including the team that is responsible for M&A and corporate investments.
She currently is an Independent Director of Fibrocell Science, Inc., and AquaBounty Technologies, Inc. and was an Independent Director for AVINTIV, Inc. (formerly known as Polymer Group, Inc.) prior to the sale of the company.
She began her media career at Home Box Office, Inc. (HBO) where she spent 14 years in leadership positions in technology and distribution, culminating in her role as Vice President, Global Technology Business Management.
Rebekah has led global teams negotiating complex agreements with domestic and international technology partners and affiliates and was on the launch teams for streaming TV services HBO GO, CBS All Access, and YouTube TV.