July 10/Boulder, Col./Press Release -- Boulder Brands Inc. is making another addition to its health and wellness platform with the acquisition of an 80% stake in GlucoBrands LLC, owner of Level Life Foods. Based in Highlands Ranch, Colo., Level Life offers products geared toward daily management of diabetes.

Level Life’s first products, Level Life Glucose Gels, were launched in September 2012 for use primarily by emergency medical technicians (EMTs) and type 1 diabetics to help correct low blood sugar level events. However, Boulder Brands sees additional opportunities for the company’s products and plans to launch Level Life’s next and primary line of products -- bars and shakes. According to Boulder Brands, the new bars and shakes will be designed to help control carbohydrates, support healthy blood sugar levels and help satisfy hunger for those managing carbohydrate and sugar intake, including consumers who may be pre-diabetic or who already have type 2 diabetes.

“We are excited to add Level to our health and wellness innovation platform as it will become our fourth category-elastic, need-state vertical brand, serving the diabetic consumer,” said Steve Hughes, chairman and chief executive officer of Boulder Brands. “Ultimately, Level will complement Smart Balance in heart-health, Earth Balance in plant-based and Udi’s and Glutino in gluten-free. Diabetes is one of the largest and fastest growing need states in consumer foods today. However, it is an underserved market with few brands offering great tasting products with the optimal balance of sugar and carbohydrates.

“Level is market-ready and is currently launching four bars and four shakes. As with our other brands, category expansion opportunities are extensive, and we look forward to growing Level to a much larger brand in the future,” Hughes commented.

Hughes said he was especially impressed with the experience and passion of the Level management team, which includes Peter Noverr. Noverr has more than 15 years of experience in business start-ups and turnarounds such as EAS and Atkins Nutrition. Noverr will become vice president of Level Life and will immediately leverage the Boulder Brands’ sales, marketing and supply chain teams to fast track the launch into bars and shakes, Hughes said.

In addition to the acquisition of Level Life, Boulder announced it has signed an exclusive license agreement with Byrne Dairy of Lafayette, N.Y., under which Byrne will become the exclusive distributor and marketer of Smart Balance Milk. Boulder Brands will receive royalty payments as part of the agreement.

“Boulder Brands entered into a co-packing agreement with Byrne Dairy over four years ago, and has developed a strong partnership,” Hughes said. “Byrne Dairy is one of the most successful and innovative companies in the dairy industry, has a strong base business in our most established markets, and as a result, we believe Smart Balance Milk is in good hands.”