Boulder Brands Acquires EVOL Foods for $48M

Boulder Brands

today announced it acquired 100% of the equity interests of Phil's Fresh Foods, LLC, owner of EVOL Foods ("EVOL"), for $48 million,  before future tax benefits.  Boulder Brands is buying EVOL from founder Phil Anson and a group of investors including Alliance Consumer Growth and an investment vehicle created by Revelry Brands and Spier Capital Management.   Based in Boulder, CO, EVOL manufactures and markets premium frozen convenience foods with a focus on pure and simple ingredients.  Current products include burritos, quesadillas, entrees, bowls, and skillet meals.   The Company's philosophy on food is simple - 'Love what you eat.'  EVOL offers great-tasting foods made with pure and simple ingredients, including those that are antibiotic- and hormone-free, and are free of artificial preservatives or flavors and made with organic ingredients.  In the twelve month period ending December 31, 2013, EVOL net sales are estimated to grow 70% to $17.0 million.   Transaction Highlights: Boulder Brands paid $48 million in cash.  This is