GreenSpace Brands sells Rolling Meadow Dairy brand to Agrifoods subsdiary
The sale to Organic Meadow Limited Partnership ‘further cements’ Agrifoods’ place in the Canadian dairy industry.
GreenSpace Brands Inc., Toronto, and Agrifoods International Cooperative Ltd., Edmonton, Alberta, announced the sale by Greenspace of the Rolling Meadow Dairy brand and business (excluding the egg business) to Agrifoods' subsidiary, Organic Meadow Limited Partnership. This sale further cements Agrifoods' place in the Canadian dairy industry as it brings Canada's strongest brand in the grass-fed dairy industry into Agrifoods' family of brands, the companies said.
The acquisition of the business is for upfront consideration of $1.8 million, including working capital considerations, in addition to a royalty based on revenue over four years, the companies noted.