The Connecticut-based Compass Diversified Holdings has entered into an agreement to buy an 87 per cent interest in Manitoba Harvest at the price of $132.5 million.
Mike Fata, CEO and founder of Manitoba Harvest, will continue to own the remaining 13 per cent of his company along with shareholders Clif White Road Investments LLC and other members of the management team at Manitoba Harvest.
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Fata, who released a written statement saying this is an exciting merger for his company, will also continue at the company as CEO.
He hopes that with CODI’s proven ability to support and flourish niche market leaders, hemp-based products will receive an innovative boost.
