Aphria Inc.
Aphria Inc. was a Canadian producer, distributor, and brand operator in the medical and adult-use cannabis industry that merged with Tilray in 2021.
Last updated August 22, 2026
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Overview
Aphria Inc. was a Canadian cannabis company headquartered in Leamington, Ontario. Founded by greenhouse operators Cole Cacciavillani and John Cervini, the company built its early business around the cultivation and wholesale supply of medical cannabis. Its location in southwestern Ontario provided access to large-scale greenhouse infrastructure, allowing Aphria to pursue a production model based partly on controlled-environment agriculture rather than relying exclusively on indoor facilities. Health Canada granted Aphria a license to produce and sell medical cannabis in 2014, and the company made its first wholesale shipments in April 2015. It subsequently expanded cultivation capacity, processing, distribution, and branded-product activities. Aphria operated through Canadian retail and wholesale channels and developed an international medical-cannabis presence, including a significant role supplying Germany. At its height, the company reported operations or commercial activities in Canada and a number of other countries. The legalization of adult-use cannabis in Canada in 2018 broadened Aphria's addressable market. The company introduced and marketed a portfolio of recreational brands, including Good Supply, B!NGO, Solei, RIFF, and Broken Coast. These brands were intended to cover different consumer preferences, product formats, and price or quality positions. Aphria also worked with Southern Glazer's Wine & Spirits on distribution of recreational cannabis products in Canada, reflecting its effort to build wholesale reach beyond cultivation alone. Aphria expanded through acquisitions and corporate transactions. Its 2018 agreement to acquire Broken Coast Cannabis added a Vancouver Island producer with a premium-oriented reputation. In November 2020, Aphria acquired SweetWater Brewing Company, a major American craft brewer. The transaction gave Aphria exposure to the U.S. beverage market and strengthened its strategy around adjacent consumer products, including potential cannabis beverages and other branded products, although U.S. federal restrictions limited direct cannabis commerce there. The company also experienced governance disputes and leadership changes. In late 2018, short-seller allegations concerning Aphria's international acquisitions and related-party transactions triggered a sharp public controversy and a board review. Aphria rejected the allegations, while subsequent reviews and regulatory processes examined aspects of the claims and the company's disclosures. The episode contributed to management changes, including the appointment of Irwin D. Simon as board chair and interim chief executive in December 2018. Aphria was initially listed on the Toronto Venture Exchange, moved to the Toronto Stock Exchange in March 2017, and joined the S&P/TSX Composite Index later that year. In 2020, it transferred its U.S. listing from the New York Stock Exchange to Nasdaq, citing lower costs. On December 15, 2020, Aphria and Tilray announced a reverse-acquisition merger designed to combine their production assets, brands, international activities, and public-market access. The transaction closed in 2021. The combined company retained the Tilray name and the TLRY trading symbol, with Irwin Simon becoming chief executive and chair. Aphria consequently ceased to exist as an independent listed company, while its brands, facilities, and operations became part of Tilray Brands.
History
Aphria Inc. was founded in 2013 by Cole Cacciavillani and John Cervini, greenhouse operators from Leamington, Ontario. The founders used the region's agricultural infrastructure as a basis for developing commercial cannabis cultivation. Aphria's early focus was medical cannabis, a market that was becoming increasingly formalized under Canadian federal regulation. Health Canada granted the company a license to produce and sell medical cannabis in 2014, and Aphria began making wholesale shipments in April 2015. It also announced plans to double its greenhouse space, establishing expansion of cultivation capacity as a central part of its early strategy. During its formative period, Aphria was led by Vic Neufeld, formerly chief executive of Jamieson Laboratories. The company developed beyond cultivation into processing, wholesale distribution, brand management, and international medical-cannabis supply. Germany became an important overseas market, with Aphria serving as a major distributor of medical cannabis there. The company also reported activities in additional countries outside Canada, although the scope and status of those activities varied by market and regulatory conditions. Aphria's capital-markets profile grew alongside its operating business. It was initially listed on the Toronto Venture Exchange, later moving to the Toronto Stock Exchange in March 2017. In December of that year, it joined the S&P/TSX Composite Index. These developments reflected the rapid expansion of investor interest in Canadian cannabis companies ahead of and following adult-use legalization. Canada's legalization of adult-use cannabis in 2018 prompted Aphria to build a consumer-facing portfolio. The company marketed brands including Good Supply, B!NGO, Solei, RIFF, and Broken Coast. These brands covered multiple product styles and intended market positions, while the underlying business continued to include medical cannabis and wholesale channels. In January 2018, Aphria agreed to acquire Broken Coast Cannabis, a Vancouver Island producer associated with a more premium and small-batch image. In May, it reached a distribution agreement with Southern Glazer's Wine & Spirits for Canadian recreational products. The company's expansion brought governance challenges. In late 2018, short-seller reports alleged that some of Aphria's international acquisitions involved questionable valuations and related-party connections. Aphria rejected the accusations, but the controversy prompted scrutiny from investors, directors, and regulators and contributed to leadership changes. In December 2018, Irwin D. Simon was nominated as chair and interim chief executive, replacing the prior leadership arrangement during the period of review and corporate reassessment. Aphria continued to pursue international and adjacent-market growth. In 2020, it moved its U.S. listing from the New York Stock Exchange to Nasdaq, explaining the change partly in terms of reducing listing costs. In November of the same year, it acquired SweetWater Brewing Company, one of the larger U.S. craft breweries. The transaction gave Aphria a beverage platform and a route into U.S. consumer branding, while cannabis-related activities in the United States remained constrained by federal law. The company also discussed opportunities involving craft beer, cannabis-infused beverages, hemp, and cannabidiol products. On December 15, 2020, Aphria announced a reverse-acquisition merger with Tilray. The transaction was designed to combine cultivation and production resources, consumer brands, international operations, and public-market access. Aphria's Irwin Simon became chief executive and chair of the combined business, while Tilray's Brendan Kennedy joined the board. The merger closed in 2021, and the combined entity retained the Tilray name and traded under Tilray's Nasdaq symbol, TLRY. Aphria therefore ceased to operate as an independent listed company. Its brands, facilities, employees, and other assets were incorporated into Tilray Brands, leaving Aphria primarily as a historical corporate identity and a reference to businesses developed before the merger.
- 2021
Aphria merges into Tilray
[1]The transaction closes and the combined company operates under the Tilray name, ending Aphria's independent public-company status.
- 2020
Nasdaq listing begins
[1]Aphria transfers its U.S. listing from the New York Stock Exchange to Nasdaq, citing cost savings.
- 2020
SweetWater Brewing Company acquired
[1]Aphria acquires SweetWater Brewing Company, adding a U.S. craft-beverage platform to its portfolio.
- 2020
Tilray merger announced
[1]Aphria and Tilray announce a reverse-acquisition transaction intended to create a larger multinational cannabis company.
- 2018
Broken Coast acquisition agreement
[1]Aphria agrees to acquire Broken Coast Cannabis, broadening its producer base and premium-oriented brand portfolio.
- 2018
Adult-use market expansion
[1]Following Canadian adult-use legalization, Aphria expands its recreational brands and signs a distribution arrangement with Southern Glazer's Wine & Spirits.
- 2018
Leadership transition amid governance controversy
[1]Irwin D. Simon becomes board chair and interim CEO after allegations concerning Aphria's international acquisitions generate investor and regulatory scrutiny.
- 2017
Uplisting to the Toronto Stock Exchange
[1]Aphria moves from the Toronto Venture Exchange to the Toronto Stock Exchange and later joins the S&P/TSX Composite Index.
- 2015
First wholesale shipments
[1]Aphria makes its first wholesale medical-cannabis shipments and announces a planned doubling of greenhouse capacity.
- 2014
Medical-cannabis license granted
[1]Health Canada authorizes Aphria to produce and sell medical cannabis.
Products and positioning
A vertically integrated cannabis company combining greenhouse cultivation, regulated medical-cannabis supply, adult-use brands, international distribution, and adjacent consumer-product investments.
Medical cannabis · 2014
Aphria medical cannabis
Aphria's original core offering consisted of regulated medical-cannabis products supplied through Canadian and international channels. The portfolio included dried cannabis and oil-based products, with production supported by the company's greenhouse cultivation and processing operations. Germany was an especially important overseas destination, where Aphria became a major medical-cannabis distributor.
Adult-use cannabis brand
Good Supply
Good Supply was one of Aphria's Canadian recreational cannabis brands. It was positioned as an accessible consumer label within the adult-use portfolio and was used across regulated cannabis formats intended for the Canadian market. Following the Tilray transaction, the brand and related commercial activities became part of the combined company's portfolio.
Adult-use cannabis brand
B!NGO
B!NGO was an Aphria recreational cannabis brand serving the Canadian adult-use market. It formed part of the company's multi-brand approach, which sought to distinguish products by consumer appeal and format rather than market all products under the corporate Aphria name.
Adult-use cannabis brand
Solei
Solei was an Aphria-associated recreational cannabis brand marketed toward everyday adult-use occasions. Its portfolio included formats such as flower, pre-rolls, and other regulated cannabis products. The brand contributed a more approachable consumer identity to Aphria's Canadian recreational business.
Adult-use cannabis brand
RIFF
RIFF was a recreational cannabis brand in Aphria's Canadian portfolio. It was associated with flower, pre-rolls, and other adult-use products and offered a more expressive, flavor- and cultivar-oriented identity within the company's broader range of consumer labels.
Premium cannabis brand
Broken Coast
Broken Coast was a Vancouver Island cannabis producer and premium-oriented brand acquired by Aphria in an agreement reached in 2018. It was associated with small-batch cultivation, attention to cultivars, and a quality-focused proposition. The acquisition helped Aphria extend its brand architecture beyond large-scale greenhouse production.
Craft beer and beverage business
SweetWater Brewing Company
SweetWater Brewing Company was acquired by Aphria in November 2020. The U.S. craft brewer gave Aphria an established beverage platform and consumer brand outside the regulated cannabis market. The acquisition supported Aphria's broader interest in beer, cannabis-related beverages, hemp, and cannabidiol products.
Controversies
2018
Short-seller allegations and international-acquisition controversy
Short-seller reports alleged that Aphria's overseas acquisitions involved questionable asset valuations and relationships involving company insiders or related parties. Aphria rejected the allegations, but the controversy produced substantial investor and media scrutiny and prompted reviews of governance, disclosures, and management.
Marketing campaigns
- 2018Canadian recreational cannabis brand rollout
Canada
After adult-use cannabis became legal in Canada, Aphria expanded consumer marketing for Good Supply, B!NGO, Solei, RIFF, and Broken Coast. The multi-brand approach was intended to address distinct product preferences and consumer segments through legal retail and wholesale channels.
Outcome. The brands became part of Aphria's principal Canadian adult-use portfolio and were subsequently incorporated into Tilray Brands after the 2021 merger.
- 2018Southern Glazer's distribution arrangement
Canada
Aphria worked with Southern Glazer's Wine & Spirits on distribution of its recreational cannabis products in Canada, seeking to extend wholesale reach as the adult-use market opened.
Outcome. The arrangement supported Aphria's transition from a primarily medical-cannabis producer toward a broader consumer and distribution business.
Brand decisions
2020
Transfer U.S. listing to NasdaqStrategyBackground
Aphria reviewed its U.S. public-market listing structure and sought to reduce exchange-related costs.
Action taken
The company moved its U.S. listing from the New York Stock Exchange to Nasdaq.
Aftermath
Aphria continued to access U.S. public markets through Nasdaq before its corporate combination with Tilray.
2020
Acquire SweetWater Brewing CompanyM&ABackground
Aphria wanted to diversify into adjacent consumer categories and establish a U.S. beverage platform while direct U.S. cannabis commerce remained federally restricted.
Action taken
Aphria acquired SweetWater Brewing Company, a U.S. craft brewer.
Aftermath
The beverage business became part of the assets transferred into the Tilray combination and supported the merged company's interest in beer and cannabis-adjacent products.
2020
Merge with TilrayM&ABackground
Aphria and Tilray sought to combine production capacity, brands, international activities, and public-market access in a consolidating cannabis industry.
Action taken
The companies announced a reverse-acquisition transaction on December 15, 2020, with Aphria's Irwin Simon designated to lead the combined company.
Aftermath
The merger closed in 2021. The combined company retained the Tilray name and TLRY symbol, ending Aphria's independent listed-company status.
2018
Acquire Broken Coast CannabisM&ABackground
Aphria sought to expand its production base and add a premium-oriented cannabis brand as Canada's regulated market developed.
Action taken
The company agreed to take over Broken Coast Cannabis, a Vancouver Island producer.
Aftermath
Broken Coast became part of Aphria's brand and operating portfolio and was later incorporated into Tilray Brands.
Recent events
Aphria subsidiary receives EU GMP certification[2]
Reported:
Aphria announced that its subsidiary ARA - Avanti Rx Analytics received EU GMP certification for medicinal products for human use and investigational medicinal products for human use from the Malta Medicines Authority. The certification allows supply to permitted jurisdictions in the European Union.
Aphria reports second-quarter fiscal 2020 results[3]
Aphria reported results for the second quarter ended November 30, 2019, including net revenue of $120.6 million and a net loss of $7.9 million.
Irwin D. Simon becomes Aphria's chief executive officer without interim title[3]
Aphria announced that Irwin D. Simon would officially remove “interim” from his chief executive officer title effective January 14, 2020; he also served as Aphria’s chairman of the board.
Aphria updates fiscal 2020 outlook[3]
Aphria updated its fiscal 2020 guidance, citing market dynamics including slower-than-expected Ontario retail store rollout, a temporary Alberta vape-product ban, higher third-party supply costs, and slower growth at CC Pharma.
Aphria announces executive appointments and promotions[4]
Reported:
Aphria announced appointments and promotions to its executive leadership team, including Denise Faltischek as chief strategy officer, Tamara Macgregor as chief corporate affairs officer, Megan McCrae as chief marketing officer, and Bernie Yeung as vice president of sales and channel strategy. The appointments were subject to Health Canada security clearances.
Aphria shareholders elect directors[4]
Reported:
At its annual shareholders' meeting, Aphria elected all seven director nominees, including new director Jodi Butts.
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