Posts Tagged ‘Smart Balance’

 


John Libonati Gluten Free Works

Smart Balance Gluten FreeThe gluten-free food industry is exploding due to increased diagnosis of celiac disease and gluten sensitivity. Celiac disease is estimated to affect 1 in 100 people, while gluten sensitivity is believed to affect up to 10% of the population. The gluten-free market is one of the fastest growing industries, with 20%+ growth per year with US sales increasing from under $1 billion in 2006 to over $2.5 billion in 2011. With the potential market so large, more and more major corporations are getting into the act.

Smart Balance recently acquired Udi’s Healthy Foods, the industry leader in the gluten-free breads and baked goods category, for $125 million.  This follows Smart Balance’s 2011 acquisition of Glutino Foods, which was at the top of the gluten-free snack industry when purchased. With this recent buy, Smart Balance is fast becoming (more…)


John Libonati Gluten Free Works

On August 3, Smart Balance, Inc. announced it purchased Glutino Food Group for $66.3 million cash.  With this purchase, Smart Balance picks up arguably the #1 most recognized gluten-free brand in the United States.

Smart Balance Gluten FreePARAMUS, N.J., Aug. 3, 2011 /PRNewswire/ — Smart Balance, Inc. (NasdaqGM: SMBL) announced it acquired 100% of the equity interest of Importations DE-RO-MA, which owns Glutino Food Group (“Glutino”), for $66.3 million, from Claridge, aMontreal-based investment firm.  Based in Laval, Quebec, Glutino is a leading manufacturer and marketer of innovative, premium-priced, gluten-free foods sold under the Glutino and Gluten Free Pantry brands.  Glutino offers a wide range of shelf-stable and frozen gluten-free products, including snack foods, frozen baked goods, frozen entrees and baking mixes throughout North America and on its website www.glutenfree.com.  Glutino had annual sales of $53.9 million during its fiscal year ended March 31, 2011.

Commenting on the announcement, Chairman and Chief Executive Officer Stephen Hughes stated,

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