Cannabis

Indeed Brewing Company will release two new offerings next month, diving head first into a new category outside of beverage alcohol: cannabis.

Boston Beer Company’s plans in the non-alcoholic cannabis-infused beverage space are beginning to play out one year after establishing a Canadian subsidiary to focus on those offerings.

Facing consistent challenges on the path to profitability, cannabis corporation Canopy Growth has announced a host of cost reduction measures on Tuesday — including slashing around 250 jobs — as it targets hundreds of millions in savings by the end of the fiscal year 2022.

Cleveland-headquartered Great Lakes Brewing Company has hired long-time Boulevard Brewing brewmaster Steven Pauwels as its first chief operations officer, the company announced Thursday. Pauwels’ first day with Great Lakes will be April 4, a Great Lakes spokesperson shared with Brewbound.

Orpheus Brewing’s Jason Pellett announced Thursday that he will step down as CEO of the Atlanta, Georgia-based brewery to focus on his role as brewmaster.

Two of Canada’s major cannabis producers are coming together after Tilray Brands agreed to take on $211 million of debt from HEXO, a resolution that will allow the latter brand to shake off its “crippling overhang” by providing Tilray with “significant equity ownership position,” according to a press release.

Legal cannabis sales worldwide are projected to rise 22% this year to over $35 billion, up from $29 billion in 2021, according to a report by Colorado-based cannabis market data supplier BDSA.

Irwin Simon, CEO of global cannabis firm Tilray, joins Brewbound Frontlines to discuss the company’s ambitions within the craft beer space following the acquisitions of the Green Flash and Alpine brands, the expansion of SweetWater, and the potential for cannabis legalization with the current Congress.

Cannabis-infused social tonic brand Cann has closed a $27 million Series A funding round, the company announced today, setting the stage for expansion into Canada and bringing a crew of new celebrity investors into the fold.

“Share of Buzz” may be one of the biggest challenges facing brands looking to enter the cannabis beverage space, according to a panel discussion hosted by Duane Morris LLP and the American Trade Association for Cannabis and Hemp’s (ATACH) Cannabis Beverage Council on Wednesday. The webinar, titled The Cannabis Beverage Revolution: Is Beverage Cannabis’ Next… Read more »

SweetWater Brewing parent company Tilray paid $5.1 million in cash and stock to acquire Green Flash Brewing and Alpine Beer Company last month, financial forms filed with the U.S. Securities and Exchange Commission showed. A purchase price of $5,133,000 for the San Diego-headquartered craft brands values their combined 2020 output of 34,000 barrels at $150.97… Read more »

Global cannabis firm Tilray has acquired Breckenridge, Colorado-based craft spirits-maker Breckenridge Distillery, with the intent to create cannabis-infused, non-alcoholic distilled spirits, once federally permissible.

After finding its own path, Lantern now has its new guide. Last month, the Boston-based cannabis delivery platform announced the promotion of its president, Meredith Mahoney, to co-founder and CEO.

Canadian cannabis operator Canopy Growth Corporation has entered a definitive agreement to acquire cannabis edibles maker Wana Wellness for $297.5 million, which will go into effect upon federal legalization of THC in the U.S.