The private investor group Mill Road Capital, L.P., Greenwich, Conn., has made a $0.36 per share offer for all outstanding shares of Galaxy Nutritional Foods Inc., a publicly traded processor of cheese alternatives, organic dairy and other organic and natural foods. Galaxy is headquartered in Orlando, Fla. Mill Road has been a minority shareholder in the business.
"As a majority shareholder of the company, we are excited to be able to provide shareholders liquidity for their shares at a great price," said Timothy Krieger, a managing member of Galaxy Partners LLC. "The partnership between Galaxy Partners and Mill Road facilitates the offer, which we believe is a win-win for both the shareholders and the company. As a private company owned by Galaxy Partners and Mill Road, [Galaxy Nutritional] will have access to capital it has lacked in the past, which has hindered its ability to grow."
Investors to go private with Galaxy Nutritional
February 11, 2009