Canadian company GreenSpace Brands, Inc. have started the process of buying Go Veggie, who produce plant based cheese alternatives for $17.8 million and it is expected to be complete by January 2018.
Go Veggie have 55 products in their range of vegan, lactose-free, and lactose and soy-free with single slices, shreds, cream cheese, spreads, dips and snack bars in their range.
Go Veggie have over 12,000 distribution locations, and are still growing. Go Veggie recorded a revenue of $16.3 million for the fiscal year ending in March 2017. Matthew von Tecihman, CEO of GreenSpace said: “We couldn’t be more excited to add Go Veggie to the GSB family of brands. With the acquisition of Go Veggie, we enter our most sought-after vertical: plant based dairy alternatives.
“The addition of Go Veggie adds a profitable pre-existing U.S. platform that will enable us to launch our most innovative and unique brands into the U.S. under the expert leadership of one of the most respected people in the U.S. natural food industry, Rick Antonelli, CEO of Go Veggie.”
GreenSpace are a Canadian based team who develop and market natural food products, already owning Love Child Organics, Central Roast, Rolling Meadow Dairy and Kiju. Rick Antonelli said: “We’ve been watching GreenSpace for years and have admired the stable of 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.”