PARAMUS, N.J., Nov. 17 Smart Balance, Inc. announced today it has signed an exclusive global agreement with the Best Life Corporation to develop a popularly priced Bestlife(TM) brand, consisting of food and beverage products that offer great taste, nutrition and convenience.
The Bestlife(TM) brand is a new venture between Smart Balance, Inc. and Bob Greene, well known as Oprah's personal trainer and creator of the Best Life(TM) healthy lifestyle program. Bob Greene is a nationally recognized fitness and nutrition expert with a loyal following who has authored books selling millions of copies. His fitness counsel is featured regularly on Oprah's television show and in O The Oprah Magazine® as well as on the popular www.TheBestLife.com website. The Best Life(TM) seal of approval is currently on nationally distributed products in 22 food and beverage categories generating over $3.5 billion in revenues.(1)
"I am delighted to announce our partnership with Bob Greene that will bring his fitness and nutrition vision to life through a broad range of great tasting products to enhance healthy living," said Stephen Hughes, Smart Balance, Inc. Chairman and CEO. "The Bestlife(TM) brand enables us to leverage our unique business model and innovation platform to offer a popularly priced wellness brand appealing to a wide range of consumers that will complement our premium Smart Balance® brand."
"Smart Balance, with its focus on great taste and healthier products, is the perfect company for the Best Life Corporation to partner with to help millions of consumers with their daily food choices," said Bob Greene. "I look forward to the opportunity to work with a team of people that has a proven ability to build great brands and produce great products."
Hughes added, "We envision the Bestlife(TM) brand as opening a world of longer-term opportunities to branch into categories with health benefits including targeted nutrition and weight management. Bestlife(TM) products will be differentiated from our successful Smart Balance® products with their strong positioning on heart health."
The licensing arrangement grants the Company exclusive rights to the new Bestlife(TM) brand across all food and beverage categories as well as the ability to sublicense the brand to other marketers by category. In addition to the new Bestlife(TM) brand, many of the Company's Smart Balance® products will continue to participate in the current Best Life(TM) seal of approval program along with other existing program participants. Products currently bearing the Best Life(TM) seal of approval contain nutritious ingredients such as whole grains, healthy fats, fiber, vitamins and minerals while substantially reducing or removing ingredients such as saturated fats, trans fats, sodium, and sugar.
The Company has incorporated the development of the Bestlife(TM) brand in its plans and outlook for 2010.
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:
About Smart Balance, Inc.
Smart Balance, Inc. (Nasdaq: 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. The Company's products include Smart Balance® Buttery Spreads, Milk, Butter Blend Sticks, Sour Cream, Peanut Butter, Microwave Popcorn, Cooking Oil, Mayonnaise, Non-Stick Cooking Spray and Cheese. For more information about products and the Smart Balance(TM) Food Plan, visit www.smartbalance.com.
(1) Source: Information Resources, Inc.
-- raise prices as fast as commodity costs increase; -- introduce and expand distribution of new products; -- meet marketing and infrastructure needs; -- meet long-term debt covenants; and -- increase volume in case shipments in a competitive environment with rising costs and an increasingly price sensitive consumer.
SOURCE Smart Balance, Inc.