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GreenSpace agrees to acquire Nothing But Nature

Published 13 December 2016

Canada-based GreenSpace Brands has agreed to acquire Nothing But Nature, which owns the Kiju brand and sells seevral organic juices and drinks across Canada and select USA customers.

The total consideration of about $8.88m to $9.88m, includes $6.22m in cash, $2.6m in common shares.

The deal is subject to TSX Venture Exchange approval, with an earn-out of about $1m based on the net revenue of Nothing But Nature for a 12 month period ending 31st December, 2017.

GreenSpace has appointed Beacon Securities to act as underwriters who have agreed to purchase 5.8 million shares of the company at $1.2 per share.

The brand focuses on offering consumers with sustainable, healthy drinks.

GreenSpace says that since Nothing But Nature’s revenues and profitability have been stable, the acquisition can gradually add to its revenue.

GreenSpace CEO Matthew von Teichman said: "This acquisition is a perfect example of the type of transaction we wish to do in the Canadian natural and organic food market. Kiju is one of the best known organic brands in Canada, with strong regional distribution and fantastic products.

“We believe our team, in particular our sales, marketing and operations groups will be able to have a strong impact on the Kiju business and will be able to assist in growing its revenues and improving its profitability margins."

The acquisition will also bring GreenSpace, new distribution agreements and can ease its entry into new markets or untapped channels and increase product line penetration.

Offering of the acquisition is expected to close by 10 January, 2017 and the closing of the acquisition is expected to take place by 17 January, next year.