M&A Deal Summary

GreenSpace Brands Acquires Galaxy Nutritional Foods

On December 20, 2017, GreenSpace Brands acquired food company Galaxy Nutritional Foods from Mill Road Capital for 18M USD

Acquisition Highlights
  • This is GreenSpace Brands’ 3rd transaction in the Food sector.
  • This is GreenSpace Brands’ largest (disclosed) transaction.
  • This is GreenSpace Brands’ 1st transaction in the United States.
  • This is GreenSpace Brands’ 1st transaction in Rhode Island.

M&A Deal Summary
Date 2017-12-20
Target Galaxy Nutritional Foods
Sector Food
Buyer(s) GreenSpace Brands
Sellers(s) Mill Road Capital
Deal Type Add-on Acquisition
Deal Value 18M USD
Advisor(s) Financo (Financial)

Target

Galaxy Nutritional Foods

North Kingstown, Rhode Island, United States
website
Galaxy Nutritional Foods, Inc. is a producer of tasty and nutritious food with natural ingredients. The company products are marketed under the brands GO Veggie!, Vegan, Rice Vegan, Rice, Veggy, and Wholesome Valley. Galaxy Nutritional Foods was founded in 1980 and is based in North Kingstown, Rhode Island.

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Buyer(S) 1

Buyer

GreenSpace Brands

Toronto, Ontario, Canada

website

Category Company
Sector Food
Revenue 14M CAD (2022)
DESCRIPTION

GreenSpace Brands is a marketer and seller of natural food products to consumers in Canada. The company creates products that inspire and improve lives through simple ingredients, traditional farming practices, and innovative branding. GreenSpace Brands is based in Toronto, Canada.

DEAL STATS #
Overall 4 of 4
Sector (Food) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (Rhode Island) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-12 Nothing But Nature

St. Jacobs, Ontario, Canada

Kijuorganic is a producer and supplier of organic juices and drinks.

Buy -

Seller(S) 1

SELLER

Mill Road Capital

Greenwich, Connecticut, United States

website

Category Private Equity Firm
Founded 2004
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Mill Road Capital is a private investment firm focused on partnering with publicly traded micro-cap companies in the US and Canada. The Firm pursues a variety of strategies including open market share purchases, block trades, acquisition financing, growth financing, mezzanine financing, as well as sponsoring take privates. Sectors of interest include retail, manufacturing, business services, and consumer products. Mill Road was formed in 2004 by former Blackstone professionals. The Firm is based in Greenwich, Connecticut.

DEAL STATS #
Overall 4 of 6
Sector (Food) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Rhode Island) 1 of 1
Country (United States) 3 of 4
Year (2017) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-14 Noodles

Broomfield, Colorado, United States

Noodles is a casual restaurant chain where its globally inspired dishes come together to create a World Kitchen. The company that offers international and American noodle dishes, as well as soups, salads, and pasta. Noodles was founded in 1995 and is based in Broomfield, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-19 School Specialty

Greenville, Wisconsin, United States

School Specialty is a provider of online educational products and services to the Pre-K- 12th grade market in the U.S. and Canada. The company designs, manufactures and distributes a broad assortment of furniture & equipment, educational technology, general and specialty classroom supplies, facility supplies, safety and security products, and core and supplemental curriculum for science, math and English language arts. School Specialty was founded in 1959 and is based in Greenville, Wisconsin.

Buy -
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