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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.
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.
The Simply Good Foods Company (NASDAQ: SMPL) announced it will release its financial results for the third quarter of fiscal year 2024 on June 27, 2024, before the market opens. The results will cover the 13-week period ending May 25, 2024.
A conference call to discuss these results will be held at 7:00 a.m. Mountain Time (9:00 a.m. Eastern Time) on the same day. The call will feature the company's President and CEO, Geoff Tanner, and CFO, Shaun Mara. Investors can join the call via specific dial-in numbers or listen through a live webcast available on the company’s Investor Relations website.
A replay of the call will be accessible until July 4, 2024. Simply Good Foods, known for brands like Atkins, Quest, and OWYN, focuses on nutritious snacking products and is committed to growth through innovation and investment opportunities.
The Simply Good Foods Company, listed on NASDAQ as SMPL, will participate in a fireside chat at the Goldman Sachs Global Staples Forum on May 14, 2024. The event will feature key members of the company's management team discussing their branded nutritional foods and snacking products. The live webcast can be accessed on the company's website.
The Simply Good Foods Company (Nasdaq: SMPL) is acquiring Only What You Need (OWYN) for $280 million in cash, a move that adds a fast-growing RTD protein shake brand to its portfolio. OWYN, a leading plant-based RTD protein shake brand, will enhance Simply Good Foods' presence in the market. OWYN is expected to achieve net sales of approximately $120 million in 2024. The acquisition is aimed at accelerating profitable growth, increasing distribution, and leveraging shared R&D expertise. The deal is expected to close by the end of fiscal year 2024.
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