PARAMUS, N.J. — Smart Balance announced its acquisition of a gluten-free food maker.
The company said its acquisiton of Glutino Food Group, valued at $66.3 million, will expand Smart Balance's portfolio of gluten-free product offerings. Glutino sells a wide range of premium-priced, gluten-free foods — including both shelf‐stable and frozen gluten‐free snack foods, frozen baked goods, frozen entrees and baking mixes throughout North America — under the Glutino and Gluten Free Pantry brands.
"The gluten‐free segment is complementary with our corporate vision of creating a health- and- wellness innovation platform that builds brands targeted at highly motivated consumer need states," Smart Balance chairman and CEO Stephen Hughes said. "Just as our Smart Balance, Earth Balance and Bestlife brands address the health- and- wellness needs of consumers, Glutino addresses a specific dietary need by eliminating gluten in foods that consumers have to avoid for health reasons. "