Pinnacle Foods Axes Boulder Brands UK Subsidiary

30 Nov 2016 --- Pinnacle Foods has axed its UK free-from subsidiary Boulder Brands, saying that its focus is on its North American food business. Pinnacle Foods, which owns brands such as Duncan Hines, acquired Boulder Brands, whose brands include Udi's gluten-free pizzas and Evol natural frozen meals, for $682m at the end of last year. It acquired the business as it looked to attract younger consumers with gluten-free and organic foods.

The Colorado-based Boulder Brands has had a UK operation since 2013 after it acquired Cheshire gluten-free baking business Davies Bakery that year.

Following the acquisition of Davies Bakery, it set up the UK subsidiary, Boulder Brands UK, as it looked to roll out its Udi's gluten free foods brand.

However, Pinnacle Foods has now decided to close the venture.

"After reviewing the Boulder Brands UK business, Pinnacle Foods decided to continue to focus on its North American branded food business and, accordingly, has ceased Boulder Brands operations in the UK marketplace,” the company said in a statement.

It is unclear how many jobs will be impacted by the closure and Pinnacle Foods did not disclose any further details.

Boulder Brands UK was up against stiff competition in the UK market, as more consumers opt for healthier, gluten-free options.

Last month, Pinnacle Foods reported its third-quarter results, saying that Boulder Brands “delivered another strong quarter”.

In the period, Boulder Brands reported revenues of $121m and profits of over $16m.