New Jersey-based Smart Balance has unveiled plans to change its name to Boulder Brands and reorganise the company into two business segments.
The company said the move comes on the back of its US$125m acquisition of Udi's Healthy Foods in June. The deal made the company the US's fourth-largest marketer of natural foods.
The company's leadership is moving the primary corporate offices to Boulder, Colorado, and changing its name to better reflect the company's vision, the company said yesterday (2 October).
"The establishment of two business segments and the relocation of our corporate headquarters to Boulder, CO, 'the Silicon Valley of natural foods,' are consistent with our long-term view and will allow us to plan and execute on our strategy more effectively," said Steve Hughes, chairman and CEO of Smart Balance.
The two segments will be called Smart Balance and Natural Brands. The Smart Balance segment will include its spreads, butter, grocery, and milk products and will be led by John Becker, who was promoted to executive vice president of Smart Balance. Meanwhile, the Natural Brands segment will include its Earth Balance, Glutino and Udi's branded products, which will be led by TJ McIntyre — promoted to EVP of Natural Brands.
