Boulder Brands Inc., the recently re-branded operator of products such as Smart Balance and Udi’s, launched an investment business aimed at funding early stage natural and organic companies, officials announced Thursday.
Boulder Brands (Nasdaq: BDBD) partnered with natural foods brokerage Presence Marketing in developing the Boulder Brands Investment Group LLC. The fund was created to provide investments to startup natural and organic food and beverage companies, officials said in a statement.
Early stage companies that receive investment capital from Boulder Brands Investment Group will operate independent of Boulder Brands, officials said.
“We believe this unique ‘friendly equity’ model not only provides equity capital, but will tap into the resources of Boulder Brands’ infrastructure to help accelerate growth and find efficiencies for partner companies,” Steve Hughes, Boulder Brands chief executive officer, said in a statement.
Boulder Brands Investment Group’s management team consists of Bill Weiland, CEO of Presence Marketing; Duane Primozich, Boulder Brands’ senior vice president of strategic initiatives; and Carole Buyers, Boulder Brands’ senior vice president of investor relations and business development.
The size of the fund was not disclosed in the announcement.
Officials for Boulder Brands could not be immediately reached for comment.
Late last year, New Jersey-based Smart Balance Inc. — a company that was founded in Boulder County in 2005 — announced plans to change its name to Boulder Brands Inc. and relocate its headquarters to downtown Boulder.
The name change took effect in January. The headquarters move is slated for this summer.