Tilray scoops up Manitoba Harvest, plans line of CBD items

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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.

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