U.S.-based Compass Diversified Holdings buys Manitoba's Fresh Hemp Foods Ltd.
Source: cbc.ca
Manitoba Harvest Hemp Foods has been bought by a U.S. firm. (Manitoba Harvest Hemp Foods/Facebook)
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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