Benzinga | Jul 19, 2021 11:54AM EDT

More Cannabis-Inspired Beer: Tilray Continues To Leverage SweetWater Brewing Co, Gaining More Consumers In US

Atlanta-based craft brewery SweetWater Brewing Company, LLC has launched a new brew under its flagship 420 brand.

The move comes on the heels of the company's announcement that it's opening a new, full-service brewery, production facility, taproom and restaurant in Colorado and the launch of its first Canadian craft cannabis brew in the U.S. in collaboration with Canada's Broken Coast Cannabis Ltd.

Initially purchased by Canadian cannabis giant Aphria Inc. (TSX:APHA) (NASDAQ:APHA) in November in a $300 million deal, SweetWater Brewing is now under Tilray Inc's (NASDAQ:TLRY) helm. The two cannabis giants - Tilray and Aphria - merged earlier this year, creating the world's largest weed company by revenue.

420 Imperial IPA

As the brand's first line extension, 420 Imperial IPA is a high-ABV brew (ABV of 9.1%), well balanced and with "the right amount of hop bitterness and malty sweetness, combining traditional and modern hops," the company stated.

"Our 420 Extra Pale Ale has been on the Mount Rushmore of craft beer for 24 years," Brian Miesieski, chief marketing officer at SweetWater, said Monday. "We are taking things to a whole new level by bringing a new style to one of the most well-known names in beer - our 420 brand."

What's In It? Amazing Flavors

The beverage represents the unique blend of 2-row, Munic and C70/80 grains as well as Centennial, Cascade, Columbus, Mosaic and Sultana Midnight Wheat Hops as well as Mosaic, Sultana, Lotu, and Cascade Dry Hops.

"We took the original base recipe from our 420 Extra Pale Ale, then dialed it up with more malt and hop varieties to deliver bigger, bolder flavor and flip it to an IPA," Brew Master Mark Medlin explained.

The brew features flavor and aromas of mango, peach, pineapple, citrus and pine, Medlin added.

SweetWater's 420 Imperial IPA will be available in 6pk and 12pk 12oz cans, as well as 19.2oz cans across the U.S.

Price Action: Tilray's shares were trading 4.67% lower at $13.40 per share at the time of writing.

Photo by Timothy Dykes on Unsplash