Aphria, a large cannabis company based in Ontario, Canada, announced Wednesday that it has agreed to acquire Atlanta-based SweetWater Brewing in a $300 million cash-and-stock transaction—an interesting indicator of how marijuana is increasingly mainstream and increasingly big business in North America.
SweetWater is best known for its flagship 420 Extra Pale Ale, but it has had additional success in recent years with its 420 Strain G13 IPA and Mango Kush Wheat Ale, which use dank hop terpenes and natural hop flavors to simulate marijuana aromas. “SweetWater’s portfolio of beer brands, including the flagship 420 brand, aligns with a cannabis lifestyle and provides a scalable platform for expansion into the U.S. and Canada,” says Tucker Berta Sarkisian, spokeswoman for SweetWater.
According to IRI, the Chicago-based market research firm, the 420 Extra Pale Ale is one of the country’s top 30 craft-beer brands, based on retail scans at grocery, convenience, and liquor stores. That beer is also available on virtually all Delta Airlines flights. Meanwhile, the G13 IPA has become SweetWater’s second-best seller.