Activist investor Engaged Capital takes 9.6 percent stake in Boulder Brands
Engaged Capital, a Newport Beach, Calif.-based hedge fund founded by Glenn Welling, has taken a 9.6 percent stake in Boulder Brands Inc. (Nasdaq: BDBD) in recent weeks as the company has gone through a reorganization and seen its share price languish.
Bloomberg reports that Engaged Capital is an activist investor with a history of pushing companies to make major changes or pursue sales of the companies.
A regulatory filing made this week shows that Engaged Capital in early June began making a series of dozens of purchases of Boulder Brands shares of varying amounts.
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Boulder Brands owns a line of several food brands, including Udi’s, Earth Balance and Smart Balance. In the wake of CEO Stephen Hughes’ ouster earlier this year, the company announced this month that it planned to cut 15 percent of salaried jobs.
Engaged Capital, a Newport Beach, Calif.-based hedge fund founded by Glenn Welling, has taken a 9.6 percent stake in Boulder Brands Inc. (Nasdaq: BDBD) in recent weeks as the company has gone through a reorganization and seen its share price languish.
Bloomberg reports that Engaged Capital is an activist investor with a history of pushing companies to make major changes or pursue sales of the companies.
A regulatory filing made this week shows that Engaged Capital in early June began making a series of dozens of purchases of Boulder Brands…
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