From High School Dropout to $419M Exit: Mike Fata’s Journey with Manitoba Harvest
November 8, 2024 |
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Few founders exemplify resilience like Mike Fata, co-founder of Manitoba Harvest. Growing up in a single-parent, low-income household, Fata dropped out of school in grade 10, struggled with health issues, and found himself weighing 300 pounds by age 18. A life-changing commitment to health led him to discover hemp as a nutritional powerhouse, sparking his path to founding Manitoba Harvest and building it into one of North America’s leading hemp food companies.
In his interview on Built to Sell Radio, Mike dives into the journey that saw him go from construction worker to the sale of Manitoba Harvest to Tilray for $419 million. You’ll discover how to:
- Navigate the complexities of partnership dynamics and equity distribution
- Fund business growth creatively, including leveraging vertical integration and cash cycle manipulation
- Build a quality-driven brand without relying on costly ads or celebrity endorsements
- Approach investor relationships with eyes wide open to terms like liquidation preferences and voting rights
- Time a sale for maximum value, especially in the consumer-packaged goods industry
Explore how grit, strategic growth, and an unyielding commitment to quality led Fata from humble beginnings to one of the largest hemp industry exits. Listen to Mike’s full story on Built to Sell Radio and gain insights into building your brand for long-term success.
Show Notes & Links
Check out Mike’s Website and Books
Connect with Mike on LinkedIn
Definitions
Due-Diligence: This is a comprehensive appraisal of a business or investment undertaken before a merger, acquisition, or investment. It seeks to validate the information provided and uncover any potential risks or liabilities.
Earn-out: This is a financing arrangement for the purchase of a business, where the seller must meet certain performance goals before receiving the full purchase price. It reduces the buyer’s risk and aligns the interests of both parties post-acquisition.
Letter of Intent (LOI): This document outlines the basic terms and conditions of a deal before a formal agreement is drawn up. It serves as a mutual commitment between the buyer and the seller to move forward with the transaction on the agreed-upon terms.
About Our Guest
Mike Fata
