Smart Balance Signs Definitive Agreement to Acquire Udi's Healthy Foods

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Smart Balance (NASDAQ: SMBL) announced Thursday it has signed a definitive agreement to acquire Udi's Healthy Foods, LLC for $125 million in cash from majority shareholder Hubson Acquisition, LLC, an affiliate of E&A Industries based in Indianapolis, the family of founder Udi Bar-on, and other minority holders. The acquisition will be treated as an asset purchase for tax purposes. As a result, the Company expects to realize future tax benefits with a present value of approximately $22 million, resulting in an effective purchase price of approximately $103 million.

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