Simply Good Foods Co. has expanded its product portfolio with the recent completion of its acquisition of Only What You Need (OWYN), a popular plant-based, ready-to-drink protein shake brand. The acquisition, valued at 0 million, was finalized from GroundForce Capital, which was OWYN’s second-largest shareholder.
OWYN, founded in 2017 by Kathryn Moos and Jeff Mroz, has gained a loyal following for its beverages made from a unique blend of pea, pumpkin, and flax. The addition of OWYN to Simply Good Foods’ existing brands, such as Quest and Atkins, further enhances the company’s offerings in the health and wellness space.
Geoff Tanner, President and CEO of Simply Good Foods, expressed his enthusiasm about the acquisition by stating, “The acquisition of OWYN is a significant strategic move for Simply Good Foods. It opens up a new consumer category and introduces a third complementary brand, strengthening our position in the rapidly growing RTD shake market. We are confident that our market strategies, including enhanced distribution, increased household penetration, and an efficient supply chain, will drive profitable growth. By leveraging the combined expertise of our R&D teams, we aim to enhance the core performance of our products and explore new avenues for innovation. OWYN has demonstrated impressive sales growth in the healthy snacking sector, and we anticipate this trend to continue.”
Mark Olivieri, senior vice president and general manager of OWYN, shared that the company is expecting net revenues to surpass 0 million in 2024, highlighting the strong growth potential of the brand under the new ownership.
The acquisition of OWYN positions Simply Good Foods Co. as a leader in the health and wellness market, offering a diverse range of products to meet the growing demand for healthier alternatives. With a focus on innovation and strategic expansion, the company is poised for continued success in the years to come.
