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Smart Balance Inc. to become Boulder Brands, move HQ to Colorado |
10.05.2012
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New Jersey-based Smart Balance, Inc. on Thursday announced plans to split into two business segments, move its headquarters to Boulder, CO, and change its name to Boulder Brands, Inc.
The changes reflect the company's planned transformation to a multi-brand company with a greater presence in natural foods.
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With the recent acquisition of Udi's, the company has determined that it will establish two
reportable operating segments, Smart Balance and Natural. The Smart Balance segment will consist of branded spreads, butter, grocery, and milk; the Natural Brands segment will be comprised of the Earth Balance, Glutino and Udi's branded products.
The new structure will eliminate the role of President and COO, further streamlining the management. Terry Schulke, who served in the role, will leave Smart Balance to pursue other opportunities.
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