Smart Balance to Acquire Udis Healthy Foods for $125M

PARAMUS, N.J.Smart Balance, Inc., announced it will acquire Denver-based Udi's Healthy Foods LLC $125 million in cash, a transaction that will diversify the companys health and wellness food platform, including its gluten-free portfolio, and accelerate growth of local natural foods industry. The transaction is expected to be finalized by July 2012.

Commenting on the announcement, Smart Balance Chairman and CEO Stephen Hughes said: "We are excited to add Udi's Healthy Foods to our portfolio of health and wellness brands. Udi's has built a strong brand with a very loyal following in gluten-free bread, which includes over 1 million 'Friends of Udi's' social marketing followers. Udi's leading bread and bakery portfolio is the perfect complement to Glutino's wide range of grocery products. With this transaction, we will offer the most comprehensive portfolio of gluten-free products to address one of the fastest growing categories in the food industry. This portfolio of gluten-free brands and products will enable us to offer all retailers in North America a one-stop strategic partner to address the growth in gluten-free."