US hashish large Inexperienced Thumb Industries (GTI) has confirmed its curiosity in a possible merger with alcohol model Boston Beer.

Earlier this week, a report from the Wall Avenue Journal steered that the Chicago-based hashish firm’s CEO, Ben Kovler, had despatched a letter to Jim Koch, founding father of Boston Beer, outlining a proposal for a possible merger.

The report despatched the hearsay mill into overdrive, as quite a few different media retailers reported that they’d additionally seen the letter.

On Wednesday (June 05), Kovler took to X to deal with the rumours, confirming that he had despatched the letter and posting it publicly for the primary time, regardless of an official assertion from the corporate stating its coverage was to not touch upon ‘media hypothesis’. 

In it, he steered a tie-up would enable GTI to change into one of many few hashish corporations on a significant inventory change, whereas enabling the brewer to develop into a number of classes like prerolls, edibles, drinks and vapes.

He steered the tie-up would create a ‘powerhouse of manufacturers’ capable of deal with the rising cohort of younger customers turning away from alcohol.

Boston Beer, which produces Samuel Adams bigger amongst a bunch of different manufacturers, already has a foothold within the hashish market by its THC-infused TeaPot model.

The brewer, which presently has a market capitalization of round $3.6bn, has remained quiet regarding the proposal, stating solely that it’s ‘totally targeted’ on its enterprise as an unbiased firm, of which Koch is known to have 100% of the voting rights.

It could not be the primary time the 2 industries have merged, with Tilray just lately closing its acquisition of 8 craft beer manufacturers and Contellation Manufacturers investing $4bn into Cover Development.