Blue Sky Hemp Ventures Sells Hemp Food Division to Fresh Hemp Foods to Focus on Cannabis Extracts and Contract Manufacturing
"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. "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."
Proceeds from the sale will be used to accelerate expansion of Blue Sky's contract manufacturing services—including vape pens, pre-rolls, and softgels—building on its strong foundation in topicals and oils. The company is also on track to complete EU-GMP certification, unlocking new global opportunities for bulk extracts and finished products.
"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," said Potter. "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.
About Blue Sky Hemp Ventures
Founded in 2017, Blue Sky operates a 15,000 sq ft cannabis processing facility in Saskatoon, Saskatchewan. Following its latest expansion (completed December 2024), Blue Sky is one of the largest independent extractors in Canada, processing approximately 20,000 kg of dry cannabis flower per month. The company now operates two core divisions:
Bulk Cannabinoid Extraction and Refinement
Contract Manufacturing – including oils, topicals, and new offerings such as vapes, prerolls and softgels.
Over the coming months, Blue Sky will continue to convert its facility to full EU-GMP compliance to support global manufacturing and extraction partnerships.
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