Smart Balance Re-Named Boulder Brands, Moves HQs
Smart Balance, Inc., Paramus, N.J., announced plans to evolve its organizational structure to establish two business segments, move its corporate headquarters to Boulder, Colo., and change its name to Boulder Brands, Inc.
With the recent acquisition of Udi’s, the two reportable operating segments—Smart Balance and Natural—will provide greater clarity on the new strategic focus of the company. The Smart Balance segment will consist of its branded products in spreads, butter, grocery and milk and will be led by John Becker, now executive vice president. The Natural Brands segment will be comprised of the Earth Balance, Glutino and Udi’s branded products, and will be led by TJ McIntyre, executive vice president. Terry Schulke, president and COO, will be leaving Smart Balance to pursue other opportunities; under the new structure, this role will be eliminated.
Additionally, in 2013, Smart Balance plans to move its primary corporate offices to Boulder, Colo., and change its name to Boulder Brands, Inc.
“The establishment of two business segments and the relocation of our corporate headquarters to Boulder, Colo.— the Silicon Valley of natural foods— is consistent with our long‐term view of the company, and will allow us to plan and execute on our strategy more effectively,” says Steve Hughes, chairman of the board. “Our mission is to become the leading health and wellness company building out and acquiring natural brands. In addition, Udi's, Glutino and Earth Balance combined are expected to represent approximately 50% of revenue in 2013, making us the No. 4 marketer of natural brands. The decision to change our corporate name to Boulder Brands, Inc. completes our evolution from when Jim Lewis and I founded the company as Boulder Specialty Brands in 2005.”