Wall Street Journal Summary – Green Thumb explores potential merger with Boston Beer, WSJ reports | WIBQ The Talk Station
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Key Facts
- Cannabis producer Green Thumb Industries is reportedly interested in merging with U.S-based brewer Boston Beer, as per a letter sent to Boston Beer founder Jim Koch.
- Green Thumb CEO Ben Kovler believes the merger would help his Canada-listed company to become listed on a major U.S. exchange.
- The possibility of a successful merger is complicated by the fact that cannabis consumption is still illegal at a federal level in the U.S. Boston Beer currently has a market capitalization of roughly $3.6 billion.
Green Thumb Industries, a Canadian cannabis production company, has reportedly shown interest in merging with U.S.-based brewing company, Boston Beer. This move was revealed in a letter sent by Green Thumb CEO, Ben Kovler, to Boston Beer founder, Jim Koch, as reported by Wall Street Journal. In the letter, Kovler stated that a merger could facilitate Green Thumb’s listing on a major U.S. exchange, a move that is currently not possible due to its listing in Canada. He also suggested that he could make a superior offer for Boston Beer. This revelation comes amid decreasing alcohol consumption in young people and a rapidly expanding U.S. cannabis market. However, the potential merger could face difficulties due to the federal illegality of cannabis consumption in the U.S. Neither Green Thumb nor Boston Beer, which has a market capitalization of approximately $3.6 billion, has publicly commented on the report.
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