COMPASS DIVERSIFIED Investor Presentation
MANITOBA
hemp
HARVEST
foods
PURCHASE PRICE
(JULY 2015)
C$132mm
Case Study
OWNERSHIP AND MANAGEMENT
Γ
DIVESTITURE OF MANITOBA HARVEST
OVERVIEW
Manitoba Harvest is 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.
กก
COMPETITIVE STRENGTHS
Market share leader in Canada
and the U.S.
Passionate and loyal consumer
following
Strong management team;
thought leaders in Hemp industry
Vertically-integrated
manufacturing model
Unique access to highly regulated
supply base
•
•
Recruited Bill Chiasson, a former CEO of a CODI portfolio company, to
transition from founder led business
Recruited VP Marketing, SVP Global Sales, CFO
Relocated corporate offices from Winnipeg to Minneapolis to provide
access to robust talent pool for future growth
Add-on acquisition (C$42mm) of the leading hemp food ingredient
processor, Hemp Oil Canada, strengthening product and supply position
Invested heavily in sales, marketing and product R&D
•
•
•
Expanded points of distribution
Increased consumer awareness by ~100% (Household Penetration)
Launched multiple new products including protein powders, granola,
bars and CBD (announced prior to divestiture)
In February 2019, CODI completed the 100% sale of Manitoba Harvest
to Tilray Inc. for an aggregate sales price of up to C$419mm
•
Under the terms of the agreement, C$49mm of the aggregate sales
price is subject to Manitoba Harvest achieving certain performance
milestones in 2019
SUCCESSFUL INVESTMENT
In February 2019, CODI completed the 100% sale of Manitoba Harvest to
Tilray Inc. for an aggregate sale price of $294 million.
25
COMPASS
DIVERSIFIEDView entire presentation