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Thursday, Jun 30, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Tilray’s SweetWater Brewing buys two craft beer companies

The Alpine and Green Flash brands as well as their core brews will stay intact

Tilray's SweetWater Brewing buys Green Flash and Alpine Beer
Image via SweetWater

SweetWater Brewing Company, owned by Canadian cannabis giant Tilray, Inc. (TSX: TLRY) (Nasdaq: TLRY), has acquired Green Flash and Alpine Beer, and the firm says it will continue expanding west.

In a statement Tuesday, SweetWater says the Alpine and Green Flash brands as well as their core brews will stay intact, and there are plans to bring new innovations to both brands’ portfolios.

While continuing its westward expansion, SweetWater says it plans to add 12 new positions and invest $2 million in its western markets, inclusive of the Green Flash and Alpine deals.

Read more: Tilray acquires US distillery while waiting for federal legalization

“We’re excited to join forces with two phenomenal brands and brews in Alpine and Green Flash,” says Freddy Bensch, Sweetwater co-founder and CEO.

“The West Coast lifestyle that is part of these breweries’ DNA perfectly aligns with our 420 lifestyle and SweetWater’s brand. We’re looking forward to keeping the legacy of these great brands intact, and bringing them back to prominence, furthering their potential, and bringing them to craft beer fans across the U.S.”

Aphria acquired Atlanta-based craft brewery SweetWater last December, ahead of the Tilray and Aphria merger this year.

The acquisitions bring Sweetwater to its furthest western market.

Meanwhile, its parent company has added another U.S.-based alcohol company to its portfolio.

Earlier this month, Tilray bought Breckenridge Distillery, a Colorado-based whiskey distillery, saying it will provide the firm with more infrastructure and a larger U.S. presence if federal legalization happens.

Read more: Tilray hires ex-Bacardi GM as president

Read more: Tilray says it’s fighting ‘ankle biters’ for sales in Q1 call


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