Canada’s Aphria Enters U.S. in $300 Million Craft Beer Deal

Nov. 4, 2020, 9:01 PM

Aphria Inc. agreed to buy SweetWater Brewing Co. for $300 million, giving the Ontario-based company a toehold in the U.S. market that is off-limits to Canadian cannabis.

It’s the first major deal in the cannabis industry involving craft beer. Chief Executive Officer Irwin Simon told Bloomberg News that the deal will give Aphria a recognizable brand in the U.S. and help it launch a line of THC beverages in Canada.

SweetWater, based in Atlanta, makes 420 Extra Pale Ale and other 420-branded drinks that emulate the flavor of cannabis strains. Founded in 1997, the company has distribution in 27 states ...

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