Boulder Specialty Brands to Become Smart Balance, Inc.

Boulder Specialty Brands to Become Smart Balance, Inc.
Boulder Specialty Brands, Inc., Longmont, CO, has signed a definitive agreement to acquire GFA Brands, Inc., the maker of Smart Balance and Earth Balance heart healthy food products, as well as other established brands. Boulder Specialty Brands also announced that it intends to change its name to Smart Balance, Inc. upon consummation of the transaction. Under the terms of the agreement, a wholly owned subsidiary of Boulder Specialty Brands will merge with and into GFA Holdings, Inc., the sole stockholder of GFA Brands, Inc., making GFA Holdings a wholly owned subsidiary of Boulder. GFA Holdings’ shareholders, who include TSG Consumer Partners, will receive approximately $465 million in cash at closing, less amounts to be paid for certain commitments, estimated to be approximately $14 million.