Pinnacle Foods Inc. (NYSE: PF) is buying the maker of Smart Balance spreads and other healthy labels for $975 million to expand in the natural, organic and refrigerated foods categories.

The target, Boulder Brands (Nasdaq: BDBD), also makes Udi's and Glutino gluten-free products, Evol natural frozen meals and Earth Balance, another spread. The business had more than $500 million in net sales for 2014. Pinnacle says it expects to increase Boulder's net adjusted Ebitda of $62 million by 50 percent in the next two years.

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