PARAMUS, N.J. (AP) -- Smart Balance Inc., which makes butter-like spreads, said Tuesday it signed an agreement with Best Life Corp. to develop a Bestlife brand that will encompass food and beverage products.

The Bestlife brand is a venture between Smart Balance Inc. and Bob Greene, who is the creator of the Best Life healthy lifestyle program.

Financial terms of the agreement were not disclosed.

Shares of the company rose 39 cents, or 7.8 percent, to close at $5.42.