Tilray is purchasing Manitoba Harvest, a large-scale hemp food manufacturer. The purchase totals $317 million and it is from Compass Holdings. The acquisition sill provides Tilray with access to the United States CBD market, as it will be able to sell CBD tinctures, sprays, gels, capsules, and the like.
Tilray has been manufacturing CBD products for years and has grown to become of the largest medical manufacturers in Canada. The purchase will provide Tilray with access to processing facilities in the United States and it will also deal with the issue of transporting products across the border from Canada to the United States, which is currently illegal.
At this point, cultivation of CBD products in Canada can only be made by licensed cannabis growers and the formulas can only be in oil form. Canada just recently legalized recreational cannabis.
As for Manitoba Harvest, it has been providing CBD products for over 20 years and its formulas are available in thousands of stores around the country. Some of its most popular products include Hemp Yeah! Granola Bars, hemp harts, shelled hemp seeds, and protein powder. These products are free from THC, the psychoactive substances in cannabis and they do not have the same effect as CBD. Rather, the products are rich in healthy substances such as proteins, amino acids, fatty acids, and omega-6 and omega-3. With the positive qualities associated with the formulas, users can get the full support that they need.
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