Smart Balance May Add More Dairy to Raise Sales to $500 Million
Smart Balance Inc. (SMBL), the maker of lower-cholesterol butter and cheese, said it’s focused on growing its dairy-product offerings beyond milk and buttery spreads to generate $500 million in annual sales by 2012.
Smart Balance is expanding the sale of its new milk products to New York, after testing the products in Florida since 2007, according to Chief Operating Officer Bob Gluck. The company will consider making sour cream, dairy creamers, egg substitutes, yogurts and smoothies as it seeks to expand, Gluck, 59, said.
Smart Balance doubled its revenue to $221.9 million in 2008 from a year earlier.
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