Canadian cannabis and beverage behemoth, Tilray (NASDAQ: TLRY), is doubling down on its acquisition of US-based brewing companies. Last Friday the marijuana and pharmaceutical powerhouse announced plans to acquire Green Flash Brewing and the Alpine Beer Company during an internal meeting at Green Flash’s headquarters in San Diego. The purchase is the latest example of Tilray’s ongoing strategy to maintain a presence in the US market.

News of Tilray’s purchase of Green Flash and Alpine comes just a week after the Canadian cannabis company announced plans to acquire Breckenridge Distillery in Colorado. Tilray’s history of US acquisitions doesn’t end there. Almost exactly a year ago Aphria, another Canadian medical marijuana company which later merged with Tilray, purchased SweetWater Brewing Company, a pot-themed brewery based in Atlanta.

Green Flash and Alpine have been working together since 2013 when Green Flash began assisting Alpine with its brewing in an effort to support the smaller brewery’s output capabilities. After a nearly decade-long partnership, Green Flash officially acquired Alpine last year.

Now, following the brands’ acquisition by Tilray, production of Green Flash and Alpine will be moved to SweetWater’s newly purchased brewing space in Fort Collins, Colorado. The acquisitions will also ramp up Tilray’s beverage production capabilities in the US for the company’s future endeavors.

After news of Breckenridge Distillery’s acquisition broke last week, Tilray’s CEO, Irwin D. Simon, opened up about his company’s larger strategy, “…[T]he Breckenridge Distillery transaction is consistent with Tilray’s strategy of leveraging our growing portfolio of U.S. CPG brands to launch THC-based product adjacencies upon federal legalization in the U.S.”

Simon stressed the future potential of such transactions, “These significant, diversified revenue streams are key to delivering on our ultimate goal of industry leadership with $4 billion in revenue by the end of fiscal year 2024.”

By purchasing recognized US brands now, Tilray will be in a strong position to launch lifestyle products–such as THC-infused beverages and foods–as soon as the US relaxes its cannabis regulations. As of now, the companies Tilray has purchased seem to be strategically located in areas where recreational marijuana is legal.

Green Flash and Alpine, for example, are both California companies. Breckenridge is located in Colorado’s Rocky Mountains and SweetWater, which was originally based in Atlanta, recently moved its production to Colorado as well. Colorado legalized recreational marijuana in 2012 and California legalized it a few years later in 2016. Gaining name recognition in states where marijuana is legal will likely be key to Tilray’s early success in the US cannabis market once the drug is legalized on a federal level.

Last month Tilray partnered two of its brands, SweetWater and Canada’s RIFF Cannabis, to launch SweetWater RIFF Vodka Soda in the US. The new spirit-based product does not contain THC but it will familiarize US consumers with RIFF, a brand known in Canada for its “creatively crafted” marijuana strains, vapes, pre-rolled joints and more.

Tilray’s acquisition of Green Flash Brewing and Alpine Beer Co. will expand the company’s US brand recognition and production capabilities. The strategic move brings the Canadian marijuana company another two steps closer to its goal of dominating the US’s future cannabis market.

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Shirani Jayasuriya
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