Manitoba Harvest Bought By Compass
Compass, a US holding company, will be purchasing Manitoba Harvest, a hemp food manufacturer, for $132.5 million. Mike Fata, CEO and founder of Winnipeg Hemp Foods, whom Manitoba Harvest is the manufacturer, will remain on as CEO of the Company.
Manitoba Harvest started in the early 1990’s by Mike Fata in his attempt to restore his health. Mike weighed over 300 pounds as a teenager and he found his way to a healthy and balanced lifestyle through hemp-based foods. “Through hemp foods I learned about essential nutrients, omega-3 and omega-6 fatty acids, fiber, and essential amino acids. Fata wrote in a press release.
Manitoba Harvests’ products are some of the fastest growing in the natural food market worldwide. Sixty five percent of all hemp grown acres in Canada were seeded for Manitoba Harvest. Manitoba Harvest is noted for quality control. About 7,000 retail stores throughout the U.S. and Canada sell Manitoba Harvest Products.
On a side note, hemp has increased in popularity in recent years with a variety of products for both food and fiber. Fiber products include textiles and clothing, building materials such as hemp Crete, it has a high adsorb-ability for excellent animal bedding and oil spills, use in plastic and paint materials, fiber for battery components and fuel pellets. After Chernobyl hemp was used to extract pollutants and toxins from groundwater and soil in the area.