Canadian Cannabis Company Acquires SweetWater Brewing

Well this is interesting news.

A leading Canadian cannabis company, Aphria Inc., has announced an agreement to acquire Atlanta-based SweetWater Brewing.

It’s a $300 million transaction involving both stock and cash, that gives Aphria, a publically traded company, entry into the US market and the infrastructure to advance its cannabis business in the states…

Irwin D. Simon, Aphria’s Chairman and Chief Executive Officer sees the deal as strategic platform that will grow well beyond the craft beer biz…

“We will establish and grow our US presence through SweetWater’s robust, profitable platform of craft brewing innovation, manufacturing, marketing and distribution expertise. At the same time, we will build brand awareness for our adult-use cannabis brands, Broken Coast, Good Supply, Riff and Solei, through our participation in the growing $29 billion craft brew market in the US.”

“We are excited to welcome Freddy and the entire SweetWater team to the Aphria family. As a purpose-driven company, Aphria takes great pride in leading with our core values and is committed to changing people’s lives for the better by investing in our products, our people and our planet – a sentiment SweetWater completely shares with us.”

And Freddy Bensch, SweetWater’s Founder and Chief Executive Officer, seemed equally pleased about the $300 million deal…

“We are excited by the opportunity to join a leading global cannabis company and build a successful future based on the strengths we both bring to this combination. Our 420 brand offerings and SweetWater 420 Fest complement Aphria’s cannabis business and create mutual opportunities for accelerated expansion into other cannabis- and beverage-related products in the U.S. and Canada.”

“We will leverage our growing beverage offering and build an even stronger, more diversified company with a continued focus on authentic and distinctive brands using some of the freshest, most flavorful ingredients to create innovative and high quality beverages including beers, seltzers, spirits and non-alcoholic beverages that our loyal and growing consumer base has come to expect from SweetWater.”