Business Insider | A Major Canadian Cannabis Company Is Paying $300 Million To Buy A 420-Themed Craft Beer Maker And Gain A Foothold In The US
November 9, 2020
Aphria agreed to buy SweetWater Brewing Company in a cash-and-stock deal worth at least $300 million, the company said on Wednesday. SweetWater, based in Atlanta, is known for its marijuana-themed 420 Extra Pale Ale. The deal gives Aphria a big leg up if cannabis is eventually legalized federally in the US. It marks the first time a Canadian cannabis producer has agreed to purchase a beer company outright. SweetWater’s 420 Extra Pale Ale evokes the flavor of marijuana, and is just one element of the beer company’s cannabis-themed marketing. SweetWater also hold an annual music festival called the 420 Fest, for example. Simon said SweetWater’s marijuana-focused branding makes it the perfect fit as an acquisition target.
To read full article click here.