Privateer-owned Tilray to buy Manitoba Harvest in $419 mln deal
Tilray Inc (Nasdaq: TLRY) has agreed to acquire FHF Holdings Ltd, a Winnipeg-based hemp food manufacturer that operates as Manitoba Harvest. Tilray agreed to pay up to $419 million in cash and stock, pending the achievement of certain milestones after the deal's close. The main seller is Compass Group, a U.S. private equity firm. Compass acquired Manitoba Harvest in 2015 for $132 million. Tilray, a Nanaimo, British Columbia-based cannabis business, said the deal will expand its product portfolio into natural foods and tap expertise in working with cannabinoids. Last year, Tilray raised about US$153 million in an initial public offering. It continues to be majority owned by U.S. cannabis private equity firm Privateer Holdings.
20 February 2019•5 mins read
