Tilray To Acquire Manitoba Harvest, The World’s Largest Hemp Food Company

Acquisition unites cannabis pioneer with leading natural food CPG company to create hemp and CBD-infused food and wellness products for North America

CANADA: Tilray, a global leader in cannabis research, cultivation, production and distribution, has announced it has entered into a definitive agreement pursuant to which Tilray will acquire all of the issued and outstanding securities of FHF Holdings, from Compass Group Diversified Holdings, LLC and other shareholders of Manitoba Harvest. Under the terms of the Agreement, Tilray will acquire Manitoba Harvest on a cash and debt-free basis, for an aggregate purchase price, including cash and class 2 Common Stock in the capital of Tilray of up to C$419 million pending the achievement of certain milestones after the closing of the Transaction.

Manitoba Harvest productsFounded in 1998, Manitoba Harvest is the world’s largest hemp food manufacturer and a leader in the natural foods industry. It produces, manufactures, markets and distributes a broad-based portfolio of hemp-based consumer products, which are sold in over 16,000 stores at major retailers across the U.S. and Canada. Products in the Manitoba Harvest portfolio include: Hemp Hearts™, Hemp Oil™, Hemp Yeah!™ granola, Hemp Yeah!™ protein powder and Hemp Bliss™ milk. Manitoba Harvest has plans to launch a line of CBD containing Broad Spectrum Hemp Extracts as well as a line-up of Hemp Yeah! wellness bars this summer.

Together, Tilray and Manitoba Harvest plan to grow both companies’ revenue while bringing nutritious hemp foods and supplements to more households across the U.S. and Canada. The acquisition will expand Tilray’s product portfolio into the natural foods category and bring Manitoba Harvest expertise in working with cannabinoids, including cannabidiol (CBD). By leveraging Manitoba Harvest’s established distribution network, Tilray plans to accelerate its expansion into the U.S. and Canadian markets, where legal, for CBD products. Manitoba Harvest also brings to Tilray an experienced team and manufacturing capabilities, including the addition of two high quality BRC AA+ certified manufacturing facilities as well as significant sales and distribution capabilities.

“Tilray’s acquisition of Manitoba Harvest is a milestone for the cannabis industry. It builds on the strategic partnerships we have formed with consumer brand industry leaders and demonstrates our track record of disrupting the global pharmaceutical, alcohol, CPG, and functional food and beverage categories,” said Brendan Kennedy, Tilray President and CEO. “We’re excited to work with Manitoba Harvest to develop and distribute a diverse portfolio of branded hemp-derived CBD food and wellness products in the U.S. and Canada.”

“We are excited about being an important part of the growth strategy for Tilray,” said Bill Chiasson, Manitoba Harvest CEO. “By leveraging our combined strengths and capabilities, we will be able to accelerate our mission of transforming consumer health through the power of hemp.”

Upon completion of the acquisition, Manitoba Harvest will operate as a wholly-owned subsidiary of Tilray, leveraging the Tilray team’s global cannabis industry expertise and other strategic partners. Manitoba Harvest will continue to operate its seed-to-shelf supply chain model and leverage its retail relationships across North America. Tilray and Manitoba Harvest will also work together to develop innovative new CBD wellness products and hemp-based consumer food products.

 

 

U.S. Firm Buys Manitoba Hemp Company For $133M

CANADA:  A Manitoba company that specializes in hemp products has been bought by a U.S. firm for $132.5 million.

On Monday, Compass Diversified Holdings announced its plan to buy Fresh Hemp Foods Ltd., otherwise known as “Manitoba Harvest Hemp Foods.”

Compass Diversified Holdings buys small or middle-market businesses in niche markets, according to the company’s website.

Manitoba Harvest Hemp Foods made about $38 million in revenue last year, a 24 per cent increase from the previous year.

 

Hemp Could Be Breakthrough Crop In Southern Alberta

CANADA:  Hemp could be positioned as a breakthrough crop for southern Alberta.

That’s the hope of a Manitoba company looking for more of the plant’s seed to aid in the production of a line of health-food products.

Last week, Manitoba Harvest officials visited southern Alberta to meet with growers and researchers, and encourage locals to jump on board.

According to Clarence Shwaluk, director of farm operations for Manitoba Harvest, the company is contracting about 6,000-9,000 acres of hemp in southern Alberta, and that’s poised to take off.

 

Canada Looking For A Piece Of American Hemp Crop

CANADA:  Canada legalized hemp sixteen years ago. So while the conversation in the U.S. currently focuses on legal issues, our neighbor to the north anxiously waits to talk business.

The 2014 farm bill allows for the farming of hemp where state laws have legalized the crop. Colorado, Kentucky, Indiana and Maine are early leaders among U.S. cultivators. Nebraska just passed a law that will open the state’s farm acres to the crop. The plant lacks the intoxicating compounds found in its cousin marijuana. It’s mostly grown for its fibers and seeds and has been touted as a miracle crop by proponents.

At a recent hemp conference in Adams County, Colo., farmers weighing their chances with hemp got a look at what a legalized industry might look like. Kevin Greenwood, one of the conference’s top-billed speakers, spoke with prospective hemp growers about his company, Manitoba Harvest, which makes foods that contain hemp.

Cross-border cooperation could jumpstart the American hemp industry, Greenwood said. His presentation is part sales pitch. If and when the legal issues get ironed out, he says, Manitoba Harvest will be first in line to buy American grown hemp.

Hemp Declared Next ‘It’ Food; Finally Overcomes Marijuana Misnomer

Hemp does give a damn about its bad reputation. This particularly trusty strain of Cannabis has been besmirched by its illicit cousin marijuana, a cultivar of Cannabis that is smoked for recreational purposes. Hemp has a microscopic and harmless amount of THC—the chemical in marijuana that gets you high—and has an extremely versatile skill set. [Read more…]

Hemp Declared Next ‘It’ Food; Finally Overcomes Marijuana Misnomer

Hemp does give a damn about its bad reputation. This particularly trusty strain of Cannabis has been besmirched by its illicit cousin marijuana, a cultivar of Cannabis that is smoked for recreational purposes. Hemp has a microscopic and harmless amount of THC—the chemical in marijuana that gets you high—and has an extremely versatile skill set. [Read more…]