Canadian food manufacturer GreenSpace Brands has announced chief financial officer Keith Jackson will resign on 26 May to return to the private-equity industry.
Cindy Leung, the current vice president for finance, will serve as interim CFO until Greenspace Brands finds a replacement, with a search already underway, the company said.
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Chief executive Matthew von Teichman noted Jackson has overseen a number of acquisitions, which included US-based Galaxy Nutritional Brands, the owner of the Go Veggie brand, and wished him success in his future role.
“Since 2017, we have completed three acquisitions and more than doubled our revenue run rate, greatly expanding the scale and opportunities for our business,” von Teichman said. “We’re excited about our next phase of growth and look forward to announcing our successor in due course.”
For the nine months to 31 December, GreenSpace reported gross revenue climbed to CAD46m (US$35.8m) from CAD29m a year earlier. Meanwhile, its net loss narrowed to CAD1.5m from CAD2.5m
Separately, the Toronto-based firm said today it had secured more than 31,000 new listings with major grocery and pharmacy retailers throughout Canada for 68 products spread across five of its brands, including Love Child, Central Roast, Rolling Meadow, Cedar and Kiju.
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By GlobalDataVon Teichman added: “Increased distribution across all our brands will help us continue to drive rapid organic growth as we fill the gaps and make our products available to a greater number of Canadian consumers.
“Love Child in particular continues to evolve into one of the most-dominant organic food brands in Canada, representing the majority of the growth in the entire baby food category.”
