Aphria to Acquire U.S. Brewer for $300 Million

Aphria (NASDAQ: APHA) is reaching across the border for a new acquisition. The Canadian marijuana company announced Wednesday that it has reached an agreement to buy American beer maker SW Brewing Company, also known as SweetWater Brewing. The price is around $300 million; Aphria was not more specific.

SweetWater dates from the big emergence of craft beer in the 1990s, and has various beers that use what Aphria describes as "terpenes and natural hemp flavors that, when combined with select hops, emulate the flavors and aromas of popular cannabis strains." The company was founded in 1997, and according to Aphria, its products are distributed to 27 states and the District of Columbia. 

Image source: Getty Images.

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Source Fool.com