Hemp Food Division by Blue Sky Hemp Sold to Fresh Hemp Foods

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In a recent press release (1), Blue Sky Hemp Ventures Ltd. (Blue Sky) announced that the privately held Canadian company had sold their hemp food division to Fresh Hemp Foods, a hemp foods establishment.

"Thanks to a differentiated strategy and disciplined execution, Blue Sky has delivered two consecutive years of positive EBITDA and net earnings—an uncommon achievement in this sector," said CEO Andrew Potter in the press release (1). "After strong growth in both our food and cannabis divisions, we reached a strategic crossroads. With limited physical space and capital, we concluded that monetizing our successful hemp food business would allow us to better scale our cannabis operations and drive long-term shareholder value."

Blue Sky will be expanding their contract manufacturing services with the undisclosed amount received from the sale. These services will include pre-rolls, softgels, and vape pens. The Canadian company will also be working on acquiring a EU-GMP certification which will help them globally for finished products and bulk extracts (1).

"Although we had limited resources, our team successfully built a high-growth, EBITDA positive food business over the last few years. I'm incredibly proud of our product innovation, particularly our refined hemp seed oil—an excellent example of our ability to cost-effectively develop new products," added Potter (1). "This spirit of innovation will continue to drive our cannabis operations. We're confident the purchaser of our food operation will take this food business to the next level, and we look forward to supporting them."

"We welcome Blue Sky's customers and suppliers to Fresh Hemp Foods. Blue Sky has championed whole plant utilization, and we intend to carry that forward alongside our own industry leading sustainability efforts. Fresh Hemp Foods remains focused on bringing nutritious, sustainable hemp foods to more and more customers and consumers," said Jared Simon, President, Manitoba Harvest and Tilray Wellness (1).

Reference

1. Blue Sky Hemp Ventures. Blue Sky Hemp Ventures sells hemp food division to fresh hemp foods to focus on cannabis extracts and contract manufacturing https://www.prnewswire.com/news-releases/blue-sky-hemp-ventures-sells-hemp-food-division-to-fresh-hemp-foods-to-focus-on-cannabis-extracts-and-contract-manufacturing-302497848.html (accessed Jul 7, 2025).