The Simply Good Foods Company has finalized a deal to acquire the plant-based ready-to-drink protein shake brand, Only What You Need (OWYN).
OWYN, a nutrition company, crafts its products from top-notch, pure ingredients, void of any artificial additives. Presently, the brand boasts five shake and powder options featuring plant-based protein.
The agreement, amounting to $280 million, aims to strengthen and broaden Simply Good Foods’ portfolio, enhancing its footprint in the ready-to-drink protein shake market segment.
Simply Good Foods’ acquisition of OWYN from United Nutritional Brands, an affiliate of Purchase Capital, and other minority investors, reinforces its standing in the nutritional snacking sector, further solidifying its position within the market.
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Through the deal, Simply Good Foods will elevate OWYN products by utilizing combined research and development capabilities to improve core product performance and tap into untapped growth opportunities.
“The purchase of Only What You Need is strategically attractive as it adds a third, complementary brand to Simply Good Foods & strengthens our position in the rapidly expanding RTD shake market,” according to Geoff Tanner, the CEO and president of Simply Good Foods. To further enhance our category-leading presence with retail customers, OWYN expands its consumer base to include a new, additive group.
He further stated, “We are confident that our go-to-market capabilities will drive profitable growth by accelerating distribution expansion, enhancing household penetration, and leveraging our cost-effective supply chain.”
Mark Olivieri, OWYN’s president and CEO, chimed in, stating, “Since OWYN’s inception in 2017, our aim has been to prioritize truth and transparency in all our endeavors, while delivering the most delicious ready-to-drink protein shakes available. This deal aligns seamlessly with our mission, as Simply Good Foods shares our commitment to offering consumers high-quality products centered around ample protein, minimal sugars, and low net carbohydrate levels.”
Following the completion of the transaction, Simply Good Foods will collaborate with Olivieri and the OWYN leadership team, who will remain in their current positions.
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