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The Simply Good Foods Company Common Stock (symbol: SMPL) operates as a consumer packaged food and beverage company serving North America and international markets. Headquartered in Denver, Colorado, the company focuses on developing, marketing, and selling a diverse range of low-carbohydrate, high-protein snacks and meal replacements under the Atkins™ and Quest™ brand names.
The company’s extensive product portfolio includes nutrition bars, ready-to-drink (RTD) shakes, sweet and salty snacks, protein bars, cookies, protein chips, and licensed frozen meals. These products cater to consumers seeking healthier snack options without sacrificing taste. Simply Good Foods distributes its products through multiple retail channels, including mass merchandise, grocery and drug stores, club stores, convenience stores, gas stations, and e-commerce platforms like Atkins.com, QuestNutrition.com, and Amazon.com.
Recently, the company launched notable marketing campaigns to increase brand awareness and relevance among new consumer demographics. For instance, the Atkins brand debuted its “Who Knew?” campaign featuring Rob Lowe, Wanda Sykes, and John Owen Lowe, aiming to challenge perceptions and highlight the brand’s delicious, low-carb offerings. Similarly, the Quest brand introduced its “It’s Basically Cheating” campaign with Kumail Nanjiani, emphasizing the taste and nutritional benefits of Quest products.
Financially, Simply Good Foods reported strong performance, reflecting its growth-oriented strategy and commitment to innovation. The company seeks to expand its wellness platform through organic growth and strategic investments in the snacking and broader food categories.
With a firm dedication to leading the nutritious snacking movement, Simply Good Foods continues to deliver great-tasting, better-for-you snacks and meal replacements, making it a notable player in the health-conscious food market.
Quest, a brand under Simply Good Foods (SMPL), launched its new 'Sweet on Protein' marketing campaign to introduce the Quest Bake Shop line, featuring protein-rich baked goods. The campaign extends the 'It's Basically Cheating' initiative and will be distributed across film, digital, social, and out-of-home advertising platforms. The new product line includes Blueberry Muffins, Chocolate Chip Muffins, and Chocolate Brownie flavors, available nationally at major retailers including Amazon, Walmart, Target, and Kroger. This campaign marks the first major initiative under Simply Good Foods' new partnership with Publicis Groupe's SG1, their new integrated agency of record.
Simply Good Foods (NASDAQ: SMPL) reported Q4 fiscal 2024 results with net sales of $375.7 million, up 17.2% from $320.4 million last year. The company completed the OWYN acquisition on June 13, 2024, contributing 9.1 percentage points to net sales growth. Net income was $29.3 million versus $36.6 million in Q4 2023. For fiscal 2025, the company expects net sales growth of 8.5-10.5%, with OWYN contributing $135-145 million, and Adjusted EBITDA growth of 4-6%. The company ended the year with a cash position of $132.5 million and a Net Debt to Adjusted EBITDA ratio of 1.0x.
The Simply Good Foods Company (NASDAQ: SMPL), a developer, marketer, and seller of branded nutritional foods and snacking products, has announced it will report financial results for the 14-week fiscal fourth quarter and full fiscal year ended August 31, 2024, on Thursday, October 24, 2024, before market open. The company will host a conference call at 6:30 a.m. Mountain time (8:30 a.m. Eastern time) on the same day to discuss the results.
Participating in the call will be Geoff Tanner, President and Chief Executive Officer, and Shaun Mara, Chief Financial Officer. Investors can join the live call by dialing 1-877-407-0792 from the U.S. or 201-689-8263 for international callers. The call and presentation slides will also be broadcast live on the company's website. A telephone replay will be available until Thursday, October 31, 2024.
The Simply Good Foods Company (Nasdaq: SMPL) has appointed Mike Clawson as Chief Customer Officer (CCO), effective October 14, 2024. This strategic move aligns with the company's growth plan, focusing on an enhanced selling model and multi-year growth plans with key customers. Clawson, a CPG veteran with 25 years of experience, will report directly to CEO Geoff Tanner.
Clawson's appointment comes as part of Simply Good Foods' efforts to expand its leadership in the nutritional snacking category. He replaces Jill Short, who is departing after 17 years with the company. The company reports that the integration of the OWYN business is progressing well, and it is on track to meet its fiscal 2024 financial objectives.
Atkins, a pioneer in low-carb lifestyle, has launched the 'Atkins Way' campaign featuring Rob Lowe, alongside new product innovations. The campaign aims to offer a joyful approach to eating and freedom from dieting. New products include:
1. Atkins Strong High Protein Shakes: 30g protein, 7g prebiotic fiber, 2g net carbs
2. Coffee House Collection Latte Meal Bars: 15g protein, 2g sugar, 4 net carbs
3. Atkins Endulge Truffles: 2g net carbs per serving
4. Atkins Endulge Gummy Bears: <1g sugar, 2 net carbs
These products are designed to support weight wellness journeys and align with a balanced lifestyle.
Quest Nutrition has launched its new Quest™ Bake Shop line, featuring Chocolate Brownies, Blueberry Muffins, and Chocolate Chip Muffins. This marks the brand's first venture into the bakery category, offering treats that are high in protein and low in sugar and net carbs. Each serving contains 10g of protein, 2-3g of net carbs, and less than 2g of sugar.
The new line aims to provide indulgent options that support a healthy lifestyle while delivering the macronutrients consumers seek. Quest™ Bake Shop products are now available at major retailers including Amazon, Walmart, Target, and Kroger. This launch aligns with Quest's mission to turn snacks into nutritional hacks, making it easier for consumers to enjoy classic flavors while supporting their health goals.
The Simply Good Foods Company reported its fiscal third quarter 2024 results on June 27, 2024. Net sales increased 3.1% to $334.8 million, driven by Quest volume. Net income rose to $41.3 million, with diluted EPS at $0.41. Adjusted diluted EPS was $0.50, and adjusted EBITDA reached $71.9 million. For the full fiscal year, the company anticipates net sales growth around the mid-point of its 4-6% target and adjusted EBITDA growth of about 8%. The acquisition of Only What You Need (OWYN) is expected to contribute $25-30 million in net sales for fiscal 2024. Gross margin improved by 320 basis points to 39.9% due to lower ingredient and packaging costs.
GroundForce Capital announces the sale of its portfolio company, Only What You Need (OWYN), to The Simply Good Foods Company (Nasdaq: SMPL) for $280 million. OWYN, a leading ready-to-drink (RTD) protein shake brand, has grown nearly 10x since GroundForce Capital's initial investment in 2019. The company's growth was driven by product development, retail expansion, and a strong omni-channel strategy. This acquisition aligns with both companies' goals of delivering healthier and more sustainable products to a wider audience. GroundForce Capital highlights the sale as a significant milestone, reflecting broader industry trends towards transparency and quality in food products.
Purchase Capital has finalized the sale of OWYN, a prominent plant-based RTD protein shake brand, to Simply Good Foods (NASDAQ: SMPL). Mark Olivieri, Senior VP and GM of OWYN, expressed gratitude for investor support and highlighted the brand's exponential growth, national expansion, and thriving eCommerce platform. Nicholas J. Singer, Founder and Managing Partner of Purchase Capital, praised the leadership and management team for their achievements and expressed confidence in OWYN's future success under Simply Good Foods. Houlihan Lokey acted as OWYN's financial advisor, while Greenberg Traurig provided legal counsel.
The Simply Good Foods Company (Nasdaq: SMPL) has completed the acquisition of Only What You Need (OWYN), a leading plant-based ready-to-drink (RTD) protein shake brand, initially announced on April 29, 2024. This $280 million acquisition enhances Simply Good Foods' product portfolio, strengthening its presence in the RTD protein shake market.
OWYN, recognized for exceptional net sales growth and expected to achieve net sales of about $120 million in 2024, offers potential for profitable growth through enhanced distribution, increased household penetration, and a cost-efficient supply chain. The acquisition is funded by a combination of cash and a $250 million term loan, with a total term loan debt of $490 million expected to be partially paid down by fiscal year-end August 2024.
A new fiscal year 2024 outlook, inclusive of OWYN, is to be provided in the upcoming third-quarter earnings report on June 27, 2024.
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