Smart Balance, known for their healthy buttery spreads, owners of Earth Balance, Gluten-Free Pantry, and many healthy products, not all gluten free, including the acquisition of Glutino Food Group (Glutino) last year, has a new deal brewing with Udi’s Healthy Foods, LLC (Udi’s). In the last year, Udi’s sales has doubled to $60.9 million.
On May 31, 2012, Smart Balance signed an agreement to purchase Udi’s from majority shareholder Hubson Acquisition, LLC, the family of founder Udi Bar-on, and other smaller shareholders, for $125,000,000, not including the debt that they are estimating to be at $240 million by the time the deal closes, estimated to be in July of this year.
Smart Balance is purchasing the company for tax purposes estimated to benefit them over the next 15 years.
Because Smart Balance is so health conscious, perhaps this may mean healthier Udi’s products in the future. Or perhaps they won’t mess with success. The latter is my guess.
References:
http://www.marketwatch.com/story/smart-balance-signs-definitive-agreement-to-acquire-udis-healthy-foods-llc-2012-05-31
http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=SMBL.O
