GreenSpace Brands has agreed to purchase Nothing But Nature (owners of the Kiju organic juice brand) for total consideration of approximately USD8.88 million to USD9.88 million. The acquisition offers opportunities for growth through continued product line innovation and expansion and is expected to immediately grow GreenSpace’s earnings and cash flow, with a number of potential synergies that are anticipated to continue to improve EBITDA margins. Nothing But Nature has a very strong balance sheet and currently has no debt outstanding.
“This acquisition is a perfect example of the type of transaction we wish to do in the Canadian natural and organic food market” says Matthew von Teichman, CEO of GreenSpace. “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.”
GreenSpace is the Canadian-based brand ideation team that develops, markets and sells premium natural food products to consumers across Canada. Nothing But Nature is a brand leader in the Canadian shelf stable organic juice segment and has established strong brand presence with key Canadian grocery retailers and is expected to continue to strengthen GreenSpace’s relationships with distribution channel partners, offering opportunities for increased penetration of respective product lines into previously untapped channels. The Nothing But Nature brand focuses on providing consumers with sustainable, healthy drinks without compromising quality and taste.