Go Veggie is a cheese alternative brand with distribution in more than 12,000 locations through most major U.S. grocery retailers and natural food chains, as well as a growing food-service business.
The plant-based dairy alternative market is one of the fastest growing subsets of the natural food market but has very few established players, says GreenSpace, which will be purchasing Galaxy from Mill Road Capital, a Greenwich, Connecticut-based private investment firm focused on investing in and partnering with publicly traded, micro-cap companies. Mill Road will become the largest shareholder of GreenSpace as a result of this transaction.
According to GreenSpace, Go Veggie adds a profitable pre-existing U.S. platform that will enable the company to launch its “most innovative and unique brands” into the U.S.
“Go Veggie has one of the leading brands in what GreenSpace believes to be one of the fastest-growing segments of the natural food industry: plant based dairy alternatives. Galaxy has broad-based distribution across the U.S. and an existing high functioning team,” the company says.
Rick Antonelli, CEO of Galaxy said, “We’ve been watching GreenSpace for years and have admired the stable of brands they’ve been able to put together in such a short time. We feel that Go Veggie is a perfect addition to that roster of strong brands, and with the potential synergies of our team selling their products and their team selling our products, there’s a significant long-term upside for both. I can’t wait to start presenting GreenSpace’s unique and innovative products to the U.S. market and Go Veggie’s existing retail partners.”
The acquisition is scheduled to close in January 2018.
GreenSpace is a Canadian-based, brand team that develops, markets and sells premium natural food products to consumers across Canada.