Canadian cannabis giant Tilray Inc. has has agreed to obtain hemp meals maker Manitoba Harvest for $277.five million in money and stock, Tilray announced. The deal could attain extra than $419 million primarily based on incentives.
Nanaimo, British Columbia-primarily based Tilray stated it appears to leverage Manitoba Harvest’s production capacity and its distribution program all through 16,000 U.S. retail outlets that consist of significant chains Costco, Wal-Mart, and Complete Foods.
Manitoba Harvest, founded in 1998, produces hemp nuts, oil and granola. Tilray stated it plans to expand into CBD-infused items such as tinctures, sprays and soft-gels exactly where these items are permissible in the USA.