With the Nov. 24 announced purchase of Boulder Brands, Pinnacle Foods hopes to expand its presence in health and wellness categories, as well as natural and organic retail channels and a new growth platform in refrigerated foods. The transaction is expected to be completed in the first quarter of 2016.
Boulder Brands, headquartered in Boulder, Colorado, manufactures a portfolio of health and wellness brands, including Udi’s and Glutino gluten-free products, EVOL natural frozen meal offerings as well as Smart Balance and Earth Balance refrigerated and shelf-stable spreads businesses.
The Boulder Brands portfolio is sold in both traditional and natural and organic channels in the U.S. Annual net sales of Boulder Brands totaled more than $500 million in 2014.
Commenting on the announcement, Pinnacle Foods CEO Bob Gamgort said, “The acquisition of Boulder Brands further expands our health and wellness portfolio, currently anchored by the Birds Eye and Gardein brands. In addition to being a synergy-rich, accretive transaction with on-trend brands, the acquisition provides us with an important health and wellness talent pool in Boulder, Colorado. In this regard, we plan to retain Boulder’s existing headquarters location.”
Headquartered in Parsippany, New Jersey, Pinnacle employs about 4,500 employees and is a producer, marketer and distributor of shelf-stable and frozen foods.