Boulder Brands is a business under a decade old but one now approaching annual sales of over US$450m. CEO Stephen Hughes set up an investment vehicle in 2005 that became Smart Balance in 2007 when it acquired GFA Brands, the owner of the Smart Balance brand. However, in the last two years, with the spreads sector under pressure, Hughes has brought balance to the business with moves into gluten free - and changed its name to reflect its wider portfolio. In part one of a two-part interview, Hughes discusses Boulder Brands' buoyant gluten-free business.