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Home 🌿 Regional 🌿 North America 🌿 Canada 🌿 U.S. firm buys Manitoba hemp company for $133M 🌿

U.S. firm buys Manitoba hemp company for $133M

Submitted by Marijuana News on Tue, 06/09/2015 - 08:01

U.S.-based Compass Diversified Holdings buys Manitoba's Fresh Hemp Foods Ltd.

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.

The deal will close in the next 45 days, according to Compass Diversified Holdings.

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URL: 
http://www.cbc.ca/news/canada/manitoba/u-s-firm-buys-manitoba-hemp-company-for-133m-1.3104694

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