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Beginning with the flagship 420 beverage offerings, SweetWater has created a lineup of year-round, seasonal and specialty beers
Aphria, a leading global cannabis company based in Canada, announced it has closed the accretive, strategic acquisition of SW Brewing Company, LLC, one of the largest independent craft brewers in the United States based on volume. Beginning with the flagship 420 beverage offerings, SweetWater has created a lineup of year-round, seasonal and specialty beers, a portfolio of brands closely aligned with a cannabis lifestyle.
“We are excited to take this significant step forward to build upon our existing foundation in cannabis with the acquisition of SweetWater and their complementary cannabis lifestyle brands. Together, our company will further diversify our product offering, broaden our consumer reach and enhance loyalty with consumers,” commented Irwin D. Simon, Aphria Inc.’s Chairman and Chief Executive Officer. “We are very pleased to welcome Freddy Bensch to our management team and the entire SweetWater organization to the Aphria family. We look forward to expanding our addressable market and leveraging SweetWater’s existing infrastructure to accelerate Aphria’s entry into the U.S. ahead of federal legalization of cannabis to fuel sustainable profitable growth.”
As part of the acquisition, unitholders of SweetWater received $250 million in cash and $50 million in Aphria stock at closing. Aphria financed the cash component of the purchase price under the Agreement through available cash on hand, including the recently raised funds under its At-the-Market equity program.