Canadian Cannabis Company Aphria Enters U.S., Acquiring Sweetwater Brewing For $300 MillionNovember 5, 2020
Atlanta, Georgia-based Sweetwater Brewing Company has agreed to be acquired by Canadian cannabis producer Aphria. The deal is valued at approximately $300 million, $250 million of which will be paid in cash and the remainder in Aphria stock. Sweetwater’s leadership team will remain in place along with its 100-plus employees, with CEO Freddy Bensch reporting to Aphria CEO Irwin Simon.
Sweetwater distributes to 27 states in the U.S. and its flagship 420 Pale Ale and Sweetwater 420 Fest event carry strong associations with cannabis; the deal also positions Aphria to quickly enter the U.S. market in the event of federal cannabis legalization. The combined company’s annual net revenue will total approximately $500 million. The deal is expected to close by the end of the year.—Danny SullivanSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.