A pioneer and global leader in hemp-based foods, both under its own brand and as an ingredient supplier. The company is the world’s largest vertically-integrated hemp food manufacturer and is strategically located near its supply base in Canada.

Date of Acquisition

Jul 2015

Purchase Price

$103M

Years Held

3.5

Sale Price

$294M

“The number one reason we decided to be acquired by Compass is we share a common vision — hemp is a unique, healthy food with nutritional benefits that many people have not yet discovered — and Compass is as passionate about our growth as we are.”

Mike Fata

Co-Founder, Manitoba Harvest

Investment Highlights

Market share leader in Canada and the U.S.

Passionate and loyal consumer following

Strong management team; thought leaders in the Hemp industry

Vertically-integrated manufacturing model

Unique access to highly regulated supply base

Value Creation

Top-graded senior management level positions

Relocated corporate offices from Winnipeg to Minneapolis to provide access to a robust talent pool for future growth

Completed an add-on acquisition of Hemp Oil Canada ($33m), a leading hemp food ingredient processor, strengthening product and supply position

Invested heavily in sales, marketing, and product R&D

  • Expanded points of distribution
  • Increased consumer awareness by ~100%
  • Launched multiple new products including protein powders, bars, granola, and CBD

Divestiture

In February 2019, CODI completed the 100% sale of Manitoba Harvest to Tilray Inc. for an aggregate sale price of $294 million