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<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 3pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B> <B>PURSUANT TO SECTION&nbsp;13
OR 15(d) OF </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported)
<B>May 31, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SMART BALANCE, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Delaware</TD>
    <TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 31%; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">001-33595</TD>
    <TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 31%; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">20-2949397</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Commission</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>File Number)</B></P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 51%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>115&nbsp;West&nbsp;Century&nbsp;Road&nbsp;-&nbsp;Suite&nbsp;260</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Paramus,&nbsp;New&nbsp;Jersey</B></P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 47%; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">07652</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number including
area code: (201)&nbsp;568-9300</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-underline-style: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-underline-style: none">N/A</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former name or former address, if changed
since last report)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry
into a Material Definitive Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 31, 2012, Smart Balance, Inc. (the
&ldquo;Company&rdquo;) entered into a definitive membership interest purchase agreement (the &ldquo;Purchase Agreement&rdquo;)
with a wholly-owned subsidiary of the Company (&ldquo;Acquisition Co&rdquo;), Allan B. Hubbard, Devin Anderson and the other parties
thereto (the &ldquo;Sellers&rdquo;), pursuant to which, Acquisition Co agreed to acquire from the Sellers all of the issued and
outstanding shares of Udi&rsquo;s Healthy Foods, LLC (&ldquo;Udi&rsquo;s&rdquo;), subject to the terms and conditions contained
therein (the &ldquo;Transaction&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Summary of the Terms of the
Purchase Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Consideration</I>. Under the terms of
the Purchase Agreement, at the closing of the Transaction, Acquisition Co will pay to the Sellers a purchase price of $125 million
in cash, subject to customary working capital and other adjustments. $10 million of the Purchase Price will be held in escrow to
secure the Sellers&rsquo; obligations to indemnify the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Representations, Warranties, Covenants
and Indemnification Obligations</I>. The Purchase Agreement contains various representations, warranties, covenants and indemnification
obligations of the parties thereto. The representations and warranties of each party set forth in the Purchase Agreement have been
made solely for the benefit of the other parties to the Purchase Agreement and such representations and warranties should not be
relied on by any other person. In addition, such representations and warranties (1) have been qualified by disclosures made to
the other party in connection with the Purchase Agreement, (2) are subject to the materiality standards contained in the Purchase
Agreement which may differ from what may be viewed as material by investors, and (3) were made only as of the date of the Purchase
Agreement or such other date as is specified in the Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Closing Conditions</I>. The
closing of the Transaction is subject to the satisfaction or waiver of certain customary conditions to closing including,
among others, (1) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (&ldquo;HSR Approval&rdquo;), (2) the absence of any law, regulation, order or injunction
prohibiting the Transaction (&ldquo;No Legal Impediment&rdquo;), (3) the receipt of certain third party consents
(&ldquo;Required Third Party Consent&rdquo;), (4) the material accuracy of the representations and warranties of the other
party, (5) the absence of a material adverse effect on Udi&rsquo;s, and (6) material compliance by the other party with its
obligations under the Purchase Agreement. The closing of the Transaction is not subject to any financing condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Termination</I>. The Agreement
contains certain customary termination rights for both  the Company and the Sellers, including the right of either party to
terminate in the event that the transaction has not been completed by a July 30, 2012 end date, which end date may
be extended by either party to a date no later than November 30, 2012 if the HSR Approval, No Legal Impediment, or
Required Third Party Consent conditions have not yet been satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The summary description of the Purchase
Agreement and the transactions contemplated therein does not purport to be complete and is qualified in its entirety by reference
to the full text thereof, a copy of which is attached to this Current Report on Form 8-K as Exhibit 2.1, and the terms of which
are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Financing Commitments</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 31, 2012, Acquisition Co
and certain of the Company&rsquo;s other directly wholly-owned subsidiaries entered into a commitment letter with Bank of
Montreal (&ldquo;BMO&rdquo;) and Citigroup Global Markets Inc. (together with BMO, the &ldquo;Lenders&rdquo;) pursuant to
which the Lenders have committed to provide a senior secured credit facility in an aggregate
principal amount of $280 million consisting of a five-year revolver in an aggregate principal amount of $40 million and a
six-year term loan in an aggregate principal amount of $240 million. The commitment will expire on November 30, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Forward-Looking Statements </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Current Report on Form 8-K (including
information included or incorporated by reference herein) includes &ldquo;forward-looking statements&rdquo; within the meaning
of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These statements may include
use of the words &ldquo;expect&rdquo;, &ldquo;anticipate&rdquo;, &ldquo;plan&rdquo;, &ldquo;intend&rdquo;, &ldquo;project&rdquo;,
&ldquo;may&rdquo;, &ldquo;believe&rdquo; and similar expressions. Such statements are based upon current beliefs and expectations
and are subject to significant risks and uncertainties. The following factors, among others, could cause actual results to differ
from those set forth in the forward-looking statements: the Company&rsquo;s ability to successfully integrate and operate the Udi&rsquo;s
business and realize the expected benefits of the Udi&rsquo;s acquisition; potential changes to future tax rates; the possibility
that the transaction may not be consummated in a timely manner, or at all, including as a result of difficulty obtaining required
regulatory approvals or third party consents; unexpected costs, charges, liabilities, or expenses resulting from the transaction;
the cost of financing the transaction may be greater than the Company anticipates; potential adverse reactions or changes in business
relationships resulting from the announcement or completion of the transaction; the possibility that Udi&rsquo;s growth may occur
at a rate less than the Company anticipates; and those other risks and uncertainties set forth in the Company&rsquo;s filings with
the Securities and Exchange Commission (&ldquo;SEC&rdquo;), including the Company&rsquo;s Annual Report on Form 10-K for the year
ended December 31, 2011, which is available at the SEC&rsquo;s Web site http://www.sec.gov. The information set forth herein speaks
only as of the date hereof, and any intention or obligation to update any forward looking statements as a result of developments
occurring after the date hereof is hereby disclaimed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black">Regulation
FD Disclosure.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 31, 2012, the Company issued a press
release announcing that it had entered into the Purchase Agreement. The text of the press release is attached to this Current Report
on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 1, 2012, the Company also
posted an investor presentation related to the acquisition on the &ldquo;Investor Center&rdquo; page of its Web site
www.smartbalance.com. The presentation provides information on Udi&rsquo;s and an overview of the acquisition. A copy of the
investor presentation is attached to this Current Report on Form 8-K as Exhibit 99.2 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%"><U>Exhibits.</U></TD>
    <TD STYLE="width: 85%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.1</TD>
    <TD STYLE="text-align: justify">Membership Interest Purchase Agreement, dated as of May 31, 2012, by and among Hubson Acquisition, LLC, Ehud Baron, Etai Baron, Rivka Grinberg, Yosef Lutwak, Chadwick White, Smart Balance, Inc., UHF Acquisition Corp. and, solely for purposes of Sections 5.3, 5.7, 5.13, 5.18 and 6.1(b) and Article 9 thereof, Allan B. Hubbard, in his personal capacity and in his capacity as Trustee of the Allan B. Hubbard Revocable Trust, and Devin Anderson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">99.1</TD>
    <TD STYLE="text-align: justify">Press Release, dated May 31, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">99.2</TD>
    <TD STYLE="text-align: justify">Slides from Investor Presentation related to the Acquisition of Udi&rsquo;s Healthy Foods, LLC, dated June 1, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-autospace: none">June 1, 2012</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-autospace: none; font-weight: bold">SMART BALANCE, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-autospace: none">(registrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; text-indent: 0in; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 5%; text-indent: 0in; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 47%; text-indent: 0in; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-autospace: none">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 0.12in">/s/ Christine Sacco</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 17.1pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-indent: 17.1pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 0.12in">Christine Sacco</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 17.1pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-indent: 17.1pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 0.12in">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT INDEX</P>

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    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid">Exhibit Number&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 84%; border-bottom: windowtext 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">2.1</TD>
    <TD>&nbsp;</TD>
    <TD>Membership Interest Purchase Agreement, dated as of May 31, 2012, by and among Hubson Acquisition, LLC, Ehud Baron, Etai Baron, Rivka Grinberg, Yosef Lutwak, Chadwick White, Smart Balance, Inc., UHF Acquisition Corp. and, solely for purposes of Sections 5.3, 5.7, 5.13, 5.18 and 6.1(b) and Article 9 thereof, Allan B. Hubbard, in his personal capacity and in his capacity as Trustee of the Allan B. Hubbard Revocable Trust, and Devin Anderson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">99.1</TD>
    <TD>&nbsp;</TD>
    <TD>Press Release, dated May 31, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">99.2</TD>
    <TD>&nbsp;</TD>
    <TD>Slides from Investor Presentation related to the Acquisition of Udi&rsquo;s Healthy Foods, LLC, dated June 1, 2012</TD></TR>
</TABLE>
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{"company-data": {"conformed-name": "SMART BALANCE, INC.", "cik": "0001331301", "assigned-sic": "2000", "irs-number": "202949397", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33595", "film-number": "12882481"}, "business-address": {"street1": "115 WEST CENTURY ROAD", "street2": "SUITE 260", "city": "PARAMUS", "state": "NJ", "zip": "07652-1432", "phone": "3036821982"}, "mail-address": {"street1": "115 WEST CENTURY ROAD", "street2": "SUITE 260", "city": "PARAMUS", "state": "NJ", "zip": "07652-1432"}, "former-company": {"former-conformed-name": "Boulder Specialty Brands, Inc.", "date-changed": "20050624"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13
OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
May 31, 2012
SMART BALANCE, INC.
(Exact name of registrant as specified
in its charter)
Delaware
001-33595
20-2949397
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
115 West Century Road - Suite 260
Paramus, New Jersey
07652
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number including
area code: (201) 568-9300
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.         Entry
into a Material Definitive Agreement
On May 31, 2012, Smart Balance, Inc. (the
"Company") entered into a definitive membership interest purchase agreement (the "Purchase Agreement")
with a wholly-owned subsidiary of the Company ("Acquisition Co"), Allan B. Hubbard, Devin Anderson and the other parties
thereto (the "Sellers"), pursuant to which, Acquisition Co agreed to acquire from the Sellers all of the issued and
outstanding shares of Udi's Healthy Foods, LLC ("Udi's"), subject to the terms and conditions contained
therein (the "Transaction").
Summary of the Terms of the
Purchase Agreement
Consideration
. Under the terms of
the Purchase Agreement, at the closing of the Transaction, Acquisition Co will pay to the Sellers a purchase price of $125 million
in cash, subject to customary working capital and other adjustments. $10 million of the Purchase Price will be held in escrow to
secure the Sellers' obligations to indemnify the Company.
Representations, Warranties, Covenants
and Indemnification Obligations
. The Purchase Agreement contains various representations, warranties, covenants and indemnification
obligations of the parties thereto. The representations and warranties of each party set forth in the Purchase Agreement have been
made solely for the benefit of the other parties to the Purchase Agreement and such representations and warranties should not be
relied on by any other person. In addition, such representations and warranties (1) have been qualified by disclosures made to
the other party in connection with the Purchase Agreement, (2) are subject to the materiality standards contained in the Purchase
Agreement which may differ from what may be viewed as material by investors, and (3) were made only as of the date of the Purchase
Agreement or such other date as is specified in the Purchase Agreement.
Closing Conditions
. The
closing of the Transaction is subject to the satisfaction or waiver of certain customary conditions to closing including,
among others, (1) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 ("HSR Approval"), (2) the absence of any law, regulation, order or injunction
prohibiting the Transaction ("No Legal Impediment"), (3) the receipt of certain third party consents
("Required Third Party Consent"), (4) the material accuracy of the representations and warranties of the other
party, (5) the absence of a material adverse effect on Udi's, and (6) material compliance by the other party with its
obligations under the Purchase Agreement. The closing of the Transaction is not subject to any financing condition.
Termination
. The Agreement
contains certain customary termination rights for both  the Company and the Sellers, including the right of either party to
terminate in the event that the transaction has not been completed by a July 30, 2012 end date, which end date may
be extended by either party to a date no later than November 30, 2012 if the HSR Approval, No Legal Impediment, or
Required Third Party Consent conditions have not yet been satisfied.
The summary description of the Purchase
Agreement and the transactions contemplated therein does not purport to be complete and is qualified in its entirety by reference
to the full text thereof, a copy of which is attached to this Current Report on Form 8-K as Exhibit 2.1, and the terms of which
are incorporated herein by reference.
Financing Commitments
On May 31, 2012, Acquisition Co
and certain of the Company's other directly wholly-owned subsidiaries entered into a commitment letter with Bank of
Montreal ("BMO") and Citigroup Global Markets Inc. (together with BMO, the "Lenders") pursuant to
which the Lenders have committed to provide a senior secured credit facility in an aggregate
principal amount of $280 million consisting of a five-year revolver in an aggregate principal amount of $40 million and a
six-year term loan in an aggregate principal amount of $240 million. The commitment will expire on November 30, 2012.
Forward-Looking Statements
This Current Report on Form 8-K (including
information included or incorporated by reference herein) includes "forward-looking statements" within the meaning
of the safe harbor provisions of the United States 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. Such statements are based upon current beliefs and expectations
and are subject to significant risks and uncertainties. The following factors, among others, could cause actual results to differ
from those set forth in the forward-looking statements: the Company's ability to successfully integrate and operate the Udi's
business and realize the expected benefits of the Udi's acquisition; potential changes to future tax rates; the possibility
that the transaction may not be consummated in a timely manner, or at all, including as a result of difficulty obtaining required
regulatory approvals or third party consents; unexpected costs, charges, liabilities, or expenses resulting from the transaction;
the cost of financing the transaction may be greater than the Company anticipates; potential adverse reactions or changes in business
relationships resulting from the announcement or completion of the transaction; the possibility that Udi's growth may occur
at a rate less than the Company anticipates; and those other risks and uncertainties set forth in the Company's filings with
the Securities and Exchange Commission ("SEC"), including the Company's Annual Report on Form 10-K for the year
ended December 31, 2011, which is available at the SEC's Web site http://www.sec.gov. The information set forth herein speaks
only as of the date hereof, and any intention or obligation to update any forward looking statements as a result of developments
occurring after the date hereof is hereby disclaimed.
Item 7.01.
Regulation
FD Disclosure.
On May 31, 2012, the Company issued a press
release announcing that it had entered into the Purchase Agreement. The text of the press release is attached to this Current Report
on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
On June 1, 2012, the Company also
posted an investor presentation related to the acquisition on the "Investor Center" page of its Web site
www.smartbalance.com. The presentation provides information on Udi's and an overview of the acquisition. A copy of the
investor presentation is attached to this Current Report on Form 8-K as Exhibit 99.2 and is incorporated herein by reference.
Item 9.01.         Financial
Statements and Exhibits.
(d)
Exhibits.
2.1
Membership Interest Purchase Agreement, dated as of May 31, 2012, by and among Hubson Acquisition, LLC, Ehud Baron, Etai Baron, Rivka Grinberg, Yosef Lutwak, Chadwick White, Smart Balance, Inc., UHF Acquisition Corp. and, solely for purposes of Sections 5.3, 5.7, 5.13, 5.18 and 6.1(b) and Article 9 thereof, Allan B. Hubbard, in his personal capacity and in his capacity as Trustee of the Allan B. Hubbard Revocable Trust, and Devin Anderson
99.1
Press Release, dated May 31, 2012
99.2
Slides from Investor Presentation related to the Acquisition of Udi's Healthy Foods, LLC, dated June 1, 2012
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
June 1, 2012
SMART BALANCE, INC.
(registrant)
By:
/s/ Christine Sacco
Christine Sacco
Chief Financial Officer
EXHIBIT INDEX
Exhibit Number
Description
2.1
Membership Interest Purchase Agreement, dated as of May 31, 2012, by and among Hubson Acquisition, LLC, Ehud Baron, Etai Baron, Rivka Grinberg, Yosef Lutwak, Chadwick White, Smart Balance, Inc., UHF Acquisition Corp. and, solely for purposes of Sections 5.3, 5.7, 5.13, 5.18 and 6.1(b) and Article 9 thereof, Allan B. Hubbard, in his personal capacity and in his capacity as Trustee of the Allan B. Hubbard Revocable Trust, and Devin Anderson
99.1
Press Release, dated May 31, 2012
99.2
Slides from Investor Presentation related to the Acquisition of Udi's Healthy Foods, LLC, dated June 1, 2012