Winnipeg, Manitoba — Manitoba Harvest Hemp Foods & Oils announced that it has secured growth and working capital from leading consumer-focused private equity firm White Road Investments and re-investment from Avrio Ventures. The largest vertically integrated hemp food manufacturer in the world, Manitoba Harvest will use the funds to strengthen all aspects of the supply chain to better meet the growing demand for hemp foods.
“The investment capital and the strategic alignment between Manitoba Harvest and White Road Investments will enhance various points of the supply chain and ensure the rapid growth of Manitoba Harvest continues,” stated Mike Fata, Chief Executive Officer and Co-founder of Manitoba Harvest. “We are also pleased that Avrio Ventures continues to share our confidence in the hemp food category growth potential,” adds Fata.
The company has been on Canada’s Profit 100 list of the fastest growing businesses for four of the past five years. In 2011 Manitoba Harvest was a finalist for both HSBC’s International Business Awards and Ernest & Young’s Entrepreneur of the Year Award.
“Manitoba Harvest makes outstanding products, is a proven performer lead by an inspired and passionate management team,” said Deven Clemens, Managing Partner with White Road Investments. “The health benefits of hemp products are quickly gaining wider consumer awareness and Manitoba Harvest is the leader in the category. White Road Investments is proud to support a company that creates great products while promoting positive change for people and planet.”
Founded in 1998, Manitoba Harvest Hemp Foods & Oils is the world’s largest vertically-integrated hemp food manufacturer and the only HACCP (Hazard Analysis and Critical Control Points) certified hemp food manufacturer. Manitoba Harvest is proud to offer award-winning products like Hemp Hearts (raw shelled hemp seeds), HEMP PRO 70® Hemp Protein Concentrate and Hemp Bliss® (organic hemp beverage).
White Road Investments is based in Emeryville, CA and was founded by Gary Erickson — owner of Clif Bar & Company. White Road seeks out and invests in healthy, active lifestyle brands including Big Tree Farms, Public Bikes, Honest Kitchen, Guayaki and Wild Planet Foods.
Avrio Ventures is a venture capital firm that supports the development of Canadian commercialization and growth stage industrial bio-products, nutraceutical ingredients and food technology companies into world-class organizations.