BOSTON, Oct. 13 /PRNewswire/ -- Smart Balance, Inc. ("Smart Balance" or the "Company") (Nasdaq: SMBL) announced today that T.J. McIntyre, General Manager Natural Channel, discussed the Company's Earth Balance® brand strategy and progress to date at the Canaccord Genuity Healthy Living Conference in Boston earlier today.
Mr. McIntyre stated, "As part of the Company's growth initiative for gaining market share in our core spreads category, we are pursuing a three-tier brand strategy, with products and innovation in each price segment: Earth Balance®, in the super-premium segment, Smart Balance® in premium segment, and Bestlife™ in the value segment."
Earth Balance® buttery spreads and sticks are positioned as heart healthy with all natural ingredients, made with a patented blend of oils. Earth Balance® is the butter replacement of choice for shoppers in the natural foods channel, with four of the top seven selling items in the butter/spreads category, and the only non-dairy products in the top 25 selling items in the category, according to recent market share data (SPINS, Total U.S.). Earth Balance® is well positioned to capitalize on consumer trends including the vegan lifestyle, dairy avoiders, and interest in natural foods.
The Company recently introduced Earth Balance™ Organic Soymilk, available at Whole Foods Market stores nationwide. Earth Balance™ Organic Soymilk is the first Non GMO Verified refrigerated soymilk, using 100% USA soybeans. Other Earth Balance® products include peanut butter and almond butter, also Non GMO Verified.
Mr. McIntyre added, "Our Earth Balance® brand is Smart Balance's answer to the resilient and growing natural foods industry. The Earth Balance® brand is dedicated to providing all-natural and organic products that are GMO-free, that address leading consumer diet restrictions and that are best in class in product quality and flavor."
Sales of Earth Balance® products represented approximately 8% of the Company's total sales for the 12 months ended June 30, 2010. Earth Balance® case shipments are up over 30% in the first half of 2010, benefiting from the market rebound in the natural foods channel and broader consumer trends including the rise in gluten awareness and the vegan lifestyle. The Company expects sales growth in Earth Balance® products to outpace overall Company sales growth in 2011.
Statements made in this press release that are not historical facts, including statements about the Company's plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may include use of the words "expect," "anticipate," "plan," "intend," "project," "may," "believe" and similar expressions. Forward-looking statements speak only as of the date they are made, and, except for the Company's ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly update any forward-looking statement, whether to reflect actual results of operations, changes in financial condition, changes in general economic or business conditions, changes in estimates, expectations or assumptions, or circumstances or events arising after the issuance of this press release. Actual results may differ materially from such forward-looking statements for a number of reasons, including those risks and uncertainties set forth in the Company's filings with the SEC and the Company's ability to:
- maintain margins during commodity cost fluctuations;
- introduce and expand distribution of new products;
- provide funding to support market share and increase consumer awareness,
- grow net sales in a competitive environment and with increasingly price sensitive consumers, and
- continue to rely on the estimates or judgments related to our impairment analysis, which if changed could have a significant impact on recoverability of the Company's goodwill and could have a material impact on its consolidated financial statements.
About Smart Balance, Inc.
Smart Balance, Inc. (NasdaqGM: SMBL) is committed to providing superior tasting heart healthier alternatives in every category it enters by avoiding trans fats naturally, balancing fats and/or reducing saturated fats, total fat and cholesterol, and/or by incorporating ingredients that consumers may be missing in their diets. The company markets the Smart Balance® line of products, which include Smart Balance® Buttery Spreads, Milks, Butter Blend Sticks, Sour Creams, Peanut Butter, Microwave Popcorn, Cooking Oil, Mayonnaise, Non-Stick Cooking Spray and Cheese, and also markets natural food products under the Earth Balance® brand and healthier lifestyle products under the Bestlife™ brand.
For more information about Smart Balance, Inc., Smart Balance® products and the Smart Balance™ Food Plan, please visit www.smartbalance.com.
SOURCE Smart Balance, Inc.