GreenSpace to buy Go Veggie, sign up Mill Road as investor

GreenSpace Brands Inc (TSX-V: JTR) has agreed to acquire the outstanding shares of Galaxy Nutritional Foods Inc, a North Kingstown, Rhode Island-based cheese company and owner of the Go Veggie brand. GreenSpace, a Canadian developer of natural food products, entered into a US$17.8 million deal to acquire the business, which will allow GreenSpace to launch its brands into the United States, CEO Matthew von Teichman said. The seller is U.S. private equity firm Mill Road Capital, which bought Go Veggie in 2009. As a result of the sale to GreenSpace, Mill Road will become the Toronto-based company's largest shareholder.

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