Smart Balance Acquires Glutino Food Group for $66.3M

Smart Balance, Inc. SMBL today announced it acquired 100% of the equity interest of Importations DE-RO-MA, which owns Glutino Food Group, for $66.3 million, from Claridge, a Montreal-based investment firm. Based in Laval, Quebec, Glutino is a manufacturer and marketer of gluten-free foods sold under the Glutino and Gluten Free Pantry brands. Glutino offers a wide range of shelf-stable and frozen gluten-free products, including snack foods, frozen baked goods, frozen entrees and baking mixes throughout North America and on its website www.glutenfree.com. Glutino had annual sales of $53.9 million during its fiscal year ended March 31, 2011.