Simply Good Foods to Acquire OWYN, a Plant-Based Protein Shake Brand, in $280 Million Deal
Source: The DairyNews
The Simply Good Foods Company has inked a definitive agreement to acquire Only What You Need (OWYN), a renowned plant-based ready-to-drink (RTD) protein shake brand.
OWYN, a pioneer in nutrition, crafts its products with premium, clean ingredients, devoid of artificial additives. Presently, the brand offers a diverse range of plant protein options across five shake and powder varieties.
This landmark deal, valued at $280 million, marks a significant expansion for Simply Good Foods, amplifying its presence in the RTD protein shake market segment.
The inclusion of OWYN, to be acquired from United Nutritional Brands (an affiliate of Purchase Capital) and other minority investors, fortifies Simply Good Foods' standing in the nutritional snacking domain.
Under the agreement, Simply Good Foods aims to elevate OWYN's offerings by tapping into synergistic research and development capabilities to optimize core product performance and seize untapped growth avenues.
Geoff Tanner, president and CEO of Simply Good Foods, hailed the acquisition as strategically compelling, citing OWYN as a pivotal addition that diversifies the company's portfolio and reinforces its foothold in the burgeoning RTD shake arena. Moreover, Tanner emphasized OWYN's ability to reach a fresh cohort of consumers, thereby augmenting Simply Good Foods' rapport with retail partners.
"We are poised to drive sustainable growth by leveraging our robust go-to-market strategies to accelerate distribution gains, enhance household penetration, and harness the efficiencies of our cost-effective supply chain," Tanner asserted.
Mark Olivieri, president and CEO of OWYN, echoed Tanner's sentiments, affirming the brand's unwavering commitment to transparency and quality since its inception in 2017. Olivieri expressed confidence in the alignment of OWYN's ethos with Simply Good Foods' dedication to offering high-protein, low-sugar, and minimal-net-carb products.
Upon the deal's closure, Simply Good Foods will collaborate closely with Olivieri and the existing OWYN leadership team, who will continue to steer the brand's growth trajectory.
This landmark deal, valued at $280 million, marks a significant expansion for Simply Good Foods, amplifying its presence in the RTD protein shake market segment.
The inclusion of OWYN, to be acquired from United Nutritional Brands (an affiliate of Purchase Capital) and other minority investors, fortifies Simply Good Foods' standing in the nutritional snacking domain.
Under the agreement, Simply Good Foods aims to elevate OWYN's offerings by tapping into synergistic research and development capabilities to optimize core product performance and seize untapped growth avenues.
Geoff Tanner, president and CEO of Simply Good Foods, hailed the acquisition as strategically compelling, citing OWYN as a pivotal addition that diversifies the company's portfolio and reinforces its foothold in the burgeoning RTD shake arena. Moreover, Tanner emphasized OWYN's ability to reach a fresh cohort of consumers, thereby augmenting Simply Good Foods' rapport with retail partners.
"We are poised to drive sustainable growth by leveraging our robust go-to-market strategies to accelerate distribution gains, enhance household penetration, and harness the efficiencies of our cost-effective supply chain," Tanner asserted.
Mark Olivieri, president and CEO of OWYN, echoed Tanner's sentiments, affirming the brand's unwavering commitment to transparency and quality since its inception in 2017. Olivieri expressed confidence in the alignment of OWYN's ethos with Simply Good Foods' dedication to offering high-protein, low-sugar, and minimal-net-carb products.
Upon the deal's closure, Simply Good Foods will collaborate closely with Olivieri and the existing OWYN leadership team, who will continue to steer the brand's growth trajectory.
