GreenSpace Brands has offloaded its Rolling Meadow Dairy brand to a subsidiary of Canadian company Agrifoods International Cooperative.
The CAD 1.8 million ($1.4 million) acquisition will see Organic Meadow take control of Rolling Meadow, with the exception of its egg business.
Toronto-based Rolling Meadow Dairy sells products such as milk, yogurt, sour cream, butter and kefir.
Agrifoods said the deal further cements its position in the Canadian dairy industry, complementing its Organic Meadow, Meadowfresh and Happy Planet brands.
“GreenSpace has done a wonderful job in pioneering and building the grass-fed dairy market in Canada through their Rolling Meadow brand, and we’re very excited to continue to expand the breadth and reach of Rolling Meadow products across Canada,” said Maheb Nathoo, CEO of Agrifoods International Cooperative.
“Agrifoods’ subsidiary, Organic Meadow, was one of the early pioneers in the organic dairy market and now with the acquisition of Rolling Meadow, we have a tremendous opportunity to grow our market leading positions in organic and grass-fed dairy by offering consumers more options for authentic, farmer-owned Canadian dairy products.”
Matthew von Teichman, CEO of GreenSpace Brands, said: “We’re thrilled to be selling the Rolling Meadow brand to Agrifoods and the Organic Meadow team. Organic Meadow has been a fantastic partner in the success of Rolling Meadow since inception. As our primary co-packer of Rolling Meadow products, and coupled with their deep understanding of the dairy market in Canada, we expect the Organic Meadow team to be able to take what we started with Canada’s first and largest grass-fed dairy brand, and bring it to a new level for the benefit of Canadian dairy consumers.”
Source: FoodBev
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