Food Business News - August 16, 2011 - (Page 15)

Sunsweet acquires Function Drinks Smart Balance purchases gluten-free food company Pantry brands. Glutino, which had sales of $53.9 million in the fiscal year ended March 31, makes gluten-free snack foods, frozen baked goods, frozen entrees and baking mixes. “We are truly excited about adding the Glutino Food Group to our portfolio of health and wellness brands,” said Stephen Hughes, chairman and chief executive officer of Smart Balance. “Glutino has increased its sales approximately 30% annually over the past three years, and we are confident about its growth prospects and contribution to Smart Balance. The demand for gluten-free products is significant and is now a category of over $2 billion in retail sales. We are bullish on the continuation of the category’s 10% compound annual growth rate due to increased awareness and diagnosis of gluten-induced ailments, including celiac disease, gluten intolerance and wheat allergies.” FBN PARAMUS, N J — Smart Balance Inc Balance, Inc., PARAMUS N.J. maker of spreads, peanut butter, popcorn, cooking oils and dressings, has acquired Importations DE-RO-MA from Claridge, a Montreal-based investment firm, for $66.3 million. The acquisition includes Glutino Food Group, a Laval, Que.-based maker and marketer of gluten-free foods sold under the Glutino and Gluten Free YUBA CITY, CALIF. — Sunsweet Growers Inc. has acquired Function Drinks, a manufacturer of diet supplement beverages. Terms of the agreement were not disclosed. Function Drinks co-founders Dayton Miller, Josh Simon and Alex Hughes will continue to maintain leadership positions in the company, according to Sunsweet. Sunsweet said the Function Drinks business will continue to operate on a fairly standalone basis. Sunsweet also announced the formation of Disruptive Beverages Inc., a group designed to help smaller beverage companies grow. Function Drinks is the first full acquisition that is a part of the new group and Sunsweet said it has strong interest in finding additional emerging brands to add to its portfolio. “For beverage ideas and companies that we truly believe in and that we believe are innovative and have a chance to challenge the ‘beverage quo’ we’ve set up a new approach to help them on their way,” said Dane Lance, chief operating officer of Sunsweet Growers. Sunsweet Growers is a grower-owned cooperative that markets and processes dried fruits for a variety of food and beverage applications. FBN August 16, 2011 FOODBUSINESS NEWS ® 15

Table of Contents for the Digital Edition of Food Business News - August 16, 2011

Food Business News - August 16, 2011
Ralcorp to buy Sara Lee refrigerated dough business
Whey protein’s emerging mass appeal
Gluten-free labeling in the spotlight
Web Contents
Editorial - Search for insights in P.&G.’s farewell to food
Nestle profi t down in fi rst half of year
Sara Lee income up sharply in year
Pilgrim’s Pride’s second-quarter earnings plunge
Snyder’s-Lance swings to loss in quarter
Consumers taking active role in beverage trends
Cargill recalls 36 million lbs of ground turkey
Consumers more concerned with fat, calories than HFCS
Investment group partnering with Kettle Cuisine
Smart Balance purchases gluten-free food company
Sunsweet acquires Function Drinks
Kraft's big Split
Additional amicable separations
Ralcorp to buy Sara Lee refrigerated dough business
Ralcorp net down on impairment charge
F.D.A. warns Lazy Larry brownies are unsafe
Cott income climbs 19% in second quarter
Lower salad volumes contribute to loss at Chiquita
Restaurant Performance Index above 100 in June
Cost and taste remain barriers for functional foods
Sugar prices strong as supplies tighten
Gluten-free labeling in the spotlight
Health and wellness remains at the heart of oil innovations
Inside the guar gum bubble
Use hydrocolloids to save on costs
Dairy Business News
Conditions remain diffi cult for Dean Foods
Dean Foods suffers loss after litigation charge
Whey protein’s emerging mass appeal
Adding ethical value
Dannon adds Greek Oikos to portfolio
Caribou adds ‘Grown-up Grilled Cheese’ to menu
Beech-Nut to co-brand baby food with Mott’s
Earth’s Best expands Sesame Street line
Popchips introduces jalapeño variety
Kettle Brand launches reduced-fat chip line
Tropical fl avor line extends beyond familiar
SunOpta completes purchase of juice company
Spicetec names director of marketing
Carton protects fragile products
GPC hires scientist, sales representative
F.D.A. has no objection to krill oil’s GRAS status
Birko to buy maker of washing, pasteurizing systems
Ingredient Markets
Ad Index
Food Business in the News

Food Business News - August 16, 2011