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Tilray Taps U.S. Hemp-Food Market With Manitoba Harvest Deal

Feb. 20, 2019, 2:13 PM

Tilray Inc. is acquiring a Manitoba hemp-food manufacturer for up to C$419 million ($316 million), tapping into its extensive U.S. distribution network and an upcoming line of CBD products.

Manitoba Harvest Blueberry Hemp Yeah! Granola
Source: Manitoba Harvest

Manitoba Harvest sells hemp-based granola, protein powder, milk and other food products at more than 13,000 points of sale across the U.S., including Walmart Inc., Costco Wholesale Corp., CVS Health Corp., Kroger Co., and online at Amazon.com Inc.

The closely held company also plans to launch a line of products containing CBD, the popular non-intoxicating compound found in hemp and cannabis, this summer. Proponents argue cannabidiol, the formal name for ...

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