Today's Business Headlines: 03/24/26
Irwin Simon, who famously pivoted to legal weed after making a name for himself building an herbal tea empire, is expanding his company’s beer offerings. Tilray Brands, where he is CEO, recently snatched up UK-based BrewDog for a cool $53 million – a far cry from the $2 billion valuation it had at its peak.
The deal marks the latest turnaround effort for Simon, who spent years running brands like Celestial Seasonings under the Hain Celestial Group before venturing into pot, beer and “wellness” foods.“Through my Hain days, I have bought declining brands and turned them around,” the exec said. “This will take a great team, spending money on the brand and putting the negativity of the past behind.” BrewDog was known for its rebellious image, with its founders seeking to shake up what they viewed as the stuffy craft brewery scene in their native UK. But the company hit the rocks– opening breweries and pubs in England, Ireland, Scotland, Australia and the US, including a Las Vegas flagship pub plus a brewery, hotel and three pubs in Ohio – according to Simon.Wealthy Californians continue fleeing the Golden State for Florida — buying up penthouses and pricey plots of dirtSimon said prior to acquiring BrewDog, Tilray was already the fourth-biggest craft brewer in terms of sales volume in the US, according to the Brewers Association. Now Simon plans to sell the “millenial, Gen Z” BrewDog drinks in pop-ups at East Hampton’s Maidstone Hotel and at the Lobster Roll’s two Hamptons locations, which are co-owned by Simon’s family office.BrewDog was known for its rebellious image, with its founders seeking to shake up what they viewed as the stuffy craft brewery scene in their native UK.You can also expect the brews at LDV Hospitality’s New York City hotspots Scarpetta and Barlume and its new Montauk spot opening this summer — Barlume Beach, a 19-room hotel, restaurant, marina and beach club. LDV Hospitality also operates the restaurant LDV at the Maidstone Hotel in the Hamptons. Meanwhile, Tilray is planning to start selling its craft beers including Montauk Brewing Co. beverages at BrewDog pubs in the US and Europe. “Taking Montauk Brewing global is also exciting. We were going to do it without having a big brother or sister there. It would have been a lot harder,” Simon said.Meanwhile, Tilray is planning to start selling its craft beers including Montauk Brewing Co. beverages at BrewDog pubs in the US and Europe.“It’s an exciting deal and an exciting brand. There’s lots to do in the UK and here to focus the brand regionally,” he said. “There’s a lot to do with events and sponsorships in Vegas, and that’s new for me,” Simon continued, adding that he hopes the Vegas flagship will also become an events space and a place to showcase all of Tilray’s craft beers. Philippe Chow, the celebrity hot spot where Rhianna, Kylie Jenner and Paul McCartney have been known to enjoy Beijing dishes like tableside Peking duck, hand pulled noodles and chicken satay, has moved from its longtime spot on East 60th Street to a new flagship location at 10 E. 52nd St.Courtesy of Philippe Chow Philippe Chow Fifth Avenue — a 7,500-square-foot, two-story spot with a private dining room in its below-ground wine cellar — comes with a private side entrance for its celeb clientele. It stands where Fig & Olive once did and its diners can’t wait, as the East 60th Street location closed last July 2025. Instagram-worthy dishes also include green prawns, salt and pepper lobster, and pao chicken — along with lychee martinis and cotton candy baked Alaska, flambéed tableside. The architecture and interior design — from Washington, DC-based firm //3877 — includes lots of gilded color, velvet and a glam, brass-clad staircase. There’s a 20-seat bar on the first floor, which also features the dining room. Upstairs, there’s an open private dining space for cocktail receptions, fashion shows, media dinners, brand activations and more. There’s also private dining for 20 seated guests in the wine cellar, which stores 300 bottles, said Abraham Merchant, CEO of Philippe Chow, adding that the eatery is also launching “Nǐ Hǎo,” a private concierge program that guarantees last minute reservations for up to four guests.Altogether, the eatery can seat 185 guests across its two stories and wine cellar, with the second floor also able to accommodate a 100-person seated dinner. There are currently five Philippe Chow locations including Fifth Avenue and a West 16th Street location inside the Green Hotel in New York. Additionally, there is an outpost in Washington, DC, as well as one in Nashville and even internationally, in Kuwait City, Kuwait.“We have always been consistent in what we provide,” he told Side Dish, adding that many staff have been with the eatery for more than 15 years. “It’s a celebratory environment and you are taken good care of, with great food, along with a great atmosphere and energy. That’s been the key to success for us.”Pot Inc. is waiting to cash in on Trump's marijuana reclassification — but the DOJ is still dragging its feetJury finds Meta failed to protect kids from sexual predators, misled users -- ordered to pay $375M in landmark caseWatch Pete Hegseth's reaction when Trump says Iran war was his ideaBrewDog was known for its rebellious image, with its founders seeking to shake up what they viewed as the stuffy craft brewery scene in their native UK.Meanwhile, Tilray is planning to start selling its craft beers including Montauk Brewing Co. beverages at BrewDog pubs in the US and Europe.Stream It Or Skip It: 'Hannah Montana 20th Anniversary Special' On Disney+, Where Miley Cyrus Brings The Best Of Both Worlds As She Revives The Character That Made Her A Star
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