Cannabis

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.

Executives of the global cannabis firm Tilray were optimistic about the company’s growth regardless of federal legalization in the U.S., during Tilray’s first quarter 2022 earnings call Thursday.

Karma Water is the latest established beverage brand to enter the CBD space, announcing today the launch of Karma CBD Water, a new line developed in collaboration with Canopy Growth scheduled to roll out next year.

Cannabis sales in the U.S. are predicted to surpass $24 billion this year, a growth of 38% compared to 2020, according to BDS Analytics (BDSA), a Colorado-based global cannabis market research firm.

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.