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The Simply Good Foods Company reports developments for a nutritional snacking business built around Quest, Atkins and OWYN. Its updates cover financial results and outlook, brand-level sales trends, input-cost pressures, product launches and retail availability for protein bars, ready-to-drink shakes, chips, snacks and related confectionery products.
Company news also includes cost-savings initiatives, corporate realignment, executive leadership changes, investor relations appointments and Nasdaq compensation disclosures tied to employment arrangements. Brand releases from Quest Nutrition highlight new protein snack formats and marketing partnerships within the company’s active-lifestyle product portfolio.
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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