Boulder Brands, Inc. : Boulder Brands, Inc. Announces License Agreement for Smart Balance® Milk Boulder, CO (July 10, 2013) - Boulder Brands, Inc. (NasdaqGM: BDBD) announced today it signed an exclusive license agreement with Byrne Dairy, of Lafayette, NY, its current co-packer for Smart Balance® Milk. Under the terms of the agreement, Byrne will exclusively distribute and market Smart Balance® Milk; Boulder Brands will receive royalty payments. Steve Hughes, Chairman and CEO of Boulder Brands, commented, "This agreement demonstrates our commitment to further strengthening Smart Balance's profitability and its core portfolio of products, while strategically positioning Smart Balance® Milk for future growth. Boulder Brands entered into a co-packing agreement with Byrne Dairy over four years ago, and has developed a strong partnership. Byrne Dairy is one of the most successful and innovative companies in the dairy industry, has a strong base business in our most established markets, and as a result, we believe Smart Balance® Milk is in good hands." Carl Byrne, President and CEO of Byrne Dairy, added, "We are thrilled to include Smart Balance® Milk in our growing portfolio of brands, as the business is transitioned to Byrne Dairy. We expect the collaboration between Byrne Dairy and Smart Balance will bring supply chain efficiencies and accelerate the growth for the Smart Balance® Milk business." Mr. Hughes concluded, "Today we made three strategic announcements that represent important steps in helping us continue to fulfill our vision of creating a high growth, high margin, health and wellness innovation platform. First, we refinanced our credit facility at reduced interest rates and less restrictive covenant terms, creating flexibility for future acquisitions. In addition, we licensed Smart Balance Milk to a strong partner, Byrne Dairy, a move that will ensure this business becomes a positive contributor to profits in 2014. Finally, we acquired 80% of Level Life Foods, a market-ready diabetes brand that will enable us to add a fourth category-elastic platform and serve a need-state vertical that targets an important consumer group. We look forward to updating shareholders in more detail on our August 1^st earnings call." The financial benefit from the milk license agreement will be provided on the Company's upcoming earnings call on August 1, 2013. About Boulder Brands, Inc. Boulder Brands, Inc. (NasdaqGM: BDBD) is committed to providing superior tasting, solution-driven products. The company's health and wellness platform consists of brands that target specific consumer needs: the Glutino® and Udi's Gluten Free® brands for gluten-free diets; the Earth Balance® brand for plant-based diets; the Level Life(TM) brand for diabetic diets and the Smart Balance® brand for heart healthier diets. For more information about Boulder Brands, Inc., please visit www.boulderbrands.com. About Byrne Dairy, Inc. Byrne Dairy is a family-owned manufacturer and distributor of milk, dairy, and ice cream products. Its commitment to consistently deliver exceptional quality has remained the cornerstone of the company's success since 1933. Byrne Dairy also owns and operates 54 convenience stores throughout Central New York. For more information visit the Byrne Dairy website at www.byrnedairy.com. Investor Contact: Carole Buyers, CFA Senior Vice President, Investor Relations & Business Development Boulder Brands, Inc. firstname.lastname@example.org 303-652-0521 x152 Corporate Contact: Caroline Hughes Director, Corporate Communications Boulder Brands, Inc. email@example.com 303-652-0521 x312 ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Boulder Brands, Inc. via Thomson Reuters ONE HUG#1715402
Boulder Brands, Inc. : Boulder Brands, Inc. Announces License Agreement for Smart Balance® Milk
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