Beer industry trade groups are calling on the leaders of the U.S. Senate appropriations committee to allocate additional funds to the Department of the Treasury’s Alcohol and Tobacco Tax and Trade Bureau’s (TTB) 2022 fiscal year budget. The Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) issued warnings this week about the potential risks of Delta-8 — a form of the psychoactive cannabinoid tetrahydrocannabinol (THC).
Boston Beer Company (BBC) has agreed to a five-year, $3.42 million deal with Peak Processing Solutions, a licensed developer, manufacturer, and distributor of recreational and medical cannabis products in Canada.
Ayr Wellness Inc. has entered into a binding letter of intent to acquire 100% of Massachusetts-based Cultivana, the parent company of cannabis-infused beverage brand Levia, for $20 million, the two companies announced earlier this week. The transaction is for $10 million in cash and the rest in stock. An additional $40 million will be paid in shares based on performance in 2022 and 2023. The deal is expected to close at the end of this year.
Canadian cannabis producer Tilray Inc. has acquired a majority stake in the debt and warrants of dispensary chain MedMen in a deal valued at $165.8 million, the company announced today.
Global cannabis firm Tilray generated $513 million in net revenue — a 27% increase year-over-year — during the company’s 2021 fiscal year, which ended May 31, the company reported last week.
Shipyard Brewing has appointed David Phillips as chief operating officer; Joe Heaton will depart the Beer Institute after serving as senior director of federal affairs for the national trade organization; and Constellation Brands has appointed Liz Lopez as VP of public affairs to lead on issues related to cannabis policy in the U.S.
Oskar Blues founder Dale Katechis made waves this month when he announced he was joining Veritas Fine Cannabis as an equity stakeholder and team member. The craft beer pioneer told Brewbound the cannabis industry piqued his interest several years ago, but it wasn’t until a friend from childhood who is now an investment banker introduced him to the Veritas team that he was ready to jump.
8th Wonder Brewery and Distillery in Houston released a Delta 8 THC non-alcoholic seltzer last week, advertised as the first Delta 8 seltzer product in Texas — a state that has been debating the legality of Delta 8 products in recent months.
Over two years after cannabis industry investment firm SOL Global took a minority stake in Jones Soda, the Seattle-based craft soda maker is finally preparing to launch infused edibles and beverages.
Senate Majority Leader Chuck Schumer introduced draft legislation today that would federally decriminalize marijuana.
Canadian cannabis company HEXO Corp. has established its U.S. presence with the acquisition of a production facility in Fort Collins, Colorado. “This will be the first expansion into the U.S. market,” HEXO general manager of U.S. operations Charles Bowman told Brewbound. “There’s more forthcoming, but this is the bedrock. This is our foundation.”
Cannabis firms Tilray, Inc. and Aphria, Inc. announced today the completion of their previously agreed upon merger, creating what they say will be “the world’s largest global cannabis company.”
Just two weeks after closing on the acquisition of Atlanta’s Sweetwater Brewing Company, Canadian cannabis company Aphria has reached an agreement to merge with Tilray, forming the world’s largest cannabis company valued at $3.8 billion.
With the proposed acquisition of Atlanta-headquartered SweetWater Brewing Company yesterday, Canadian cannabis company Aphria believes it’s on the path to becoming a vice industry powerhouse.