Tilray to buy hemp food maker for about CAD419m.

Tilray, a global leader in cannabis research, cultivation, production and distribution, agreed to acquire all of the issued and outstanding securities of FHF Holdings (known as Manitoba Harvest), from Compass Group Diversified Holdings and other shareholders of Manitoba Harvest. Tilray will acquire Manitoba Harvest on a cash and debt-free basis for up to CAD419m ($316m). “Tilray’s acquisition of Manitoba Harvest is a milestone for the cannabis industry. It builds on the strategic partnerships we have formed with consumer brand industry leaders and demonstrates our track record of disrupting the global pharmaceutical, alcohol, CPG, and functional food and beverage categories. We’re excited to work with Manitoba Harvest to develop and distribute a diverse portfolio of branded hemp-derived CBD food and wellness products in the US and Canada," Brendan Kennedy, Tilray President and CEO.