GreenSpace Brands acquires U.S. plant-based cheesemaker

Toronto – A Canadian natural food product developer has acquired U.S.-based Galaxy Nutritional Foods Inc., a maker of cheese-alternative foods and owner of the Go Veggie brand.

GreenSpace Brands Inc. says in a statement that it acquired Galaxy Nutritional Foods for US$17.8 million. It will be purchasing the US company from Mill Road Capital, a Connecticut-based private investment firm.

The acquisition is set to close in January 2018.

Galaxy Nutritional Foods and its brand Go Veggie are one of the leading cheese-alternative brands in the US, says the statement, and has distribution in more than 12,000 locations through most major US grocery retailers and natural food chains. The company also has a growing foodservice business.

Matthew von Teichman, the CEO of GreenSpace, says in the statement that acquisition means the company has entered its “most sought-after vertical, plant-based dairy alternatives.”

von Teichman adds that GreenSpace will continue to develop Go Veggie’s “Canadian sales strategy” and “initiate” GreenSpace’s US development.

GreenSpace owns several brands, including Love Child Organics, 100% organic food for infants and toddlers; Central Roast, a clean-snacking brand; Rolling Meadow Dairy, a grass-fed dairy product line; Life Choices, grass-fed and pasture-raised meats without the use of antibiotics and hormones; Kiju, shelf-stable organic juice; and Cedar, cold-pressed and gut-health fresh juices.

All of the brands are found in natural foods and mass retail grocery stores across Canada.

Photo: Vegan pizza from ThinkStock