Boulder Brands acquires Phil's Fresh

Boulder Brands has purchased EVOL Foods parent Phil's Fresh for $48 million. EVOL manufactures clean-label frozen food such as burritos, quesadillas, bowls and skillet meals. "While this acquisition is relatively small in size, we believe it to have significant potential for Boulder Brands, as EVOL is a category-elastic brand in an exciting segment that will further accelerate our growth rate and diversify our mix to high-growth natural brands," said Stephen Hughes, chairman and CEO of Boulder Brands, formerly Smart Balance.

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