Tilray to Acquire Hemp Food Company Manitoba Harvest for Up to $419 Million

The market for hemp-derived CBD was estimated at US$591 million in 2018 and is predicted to balloon to US$22 billion by 2022.

Cannabis producer Tilray Inc. has signed a deal to purchase Hemp Hearts-maker Manitoba Harvest for up to $419 million in money and inventory as the 2 corporations look to launch CBD-infused merchandise the place permissible within the U.S.

The acquisition accelerates the Nanaimo, B.C.-based pot grower’s entry into the U.S. market because the hemp meals producer’s merchandise are already on the cabinets of shops similar to Wal-Mart, Costco and Whole Foods on each side of the border, stated Tilray chief government Brendan Kennedy.

– Read your complete article at Business Insider.


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