Boulder Brands, Inc. announced that its Board of Directors has authorized a process to explore a range of strategic and financial alternatives to enhance shareholder value.
The company has engaged William Blair & Company as its financial advisor to assist with its review of alternatives. The company has recently received inquiries from a number of qualified parties that expressed interest in discussing a potential transaction with Boulder Brands.
The company's independent directors will oversee this process so that management can continue to execute the company's ongoing initiatives, increase operational efficiencies, improve financial performance and bolster the position of its brands and business. In addition, the Board has determined to suspend its search for a permanent CEO while it undertakes this process.
The company stated that no decision has been made and that there can be no assurance that the Board's exploration of strategic or financial alternatives will result in any transaction being entered into or consummated. The company has not set a timetable for completion of this process and does not intend to discuss or disclose developments with respect to this process unless or until the Board has approved a definitive course of action or otherwise concludes the review of strategic alternatives.