Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns show up across Simply Good Foods's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the deals below are the evidence.
3 acquisitions. Each entry carries the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.
Conyers Park Acquisition Corp. (NASDAQ: CPAA), a publicly traded special purpose acquisition company led by consumer-industry executives Jim Kilts and Dave West, completed its business combination with an affiliate of Atkins Nutritionals, Inc. — a leading developer, marketer and seller of branded nutritional food and snacking products. The combined entity became The Simply Good Foods Company, listing on NASDAQ under SMPL beginning July 10, 2017. approximately $1.3 billion enterprise value (including $402.5 million of Conyers Park trust cash plus $100 million private placement).
Atkins, an iconic American brand for consumers who are focused on overall health and wellness, is the first part of what we believe will be a broader healthy snacking platform.Dave West — Executive Vice Chairman, The Simply Good Foods Company (former Conyers Park executive founder)
Simply Good Foods has many exciting opportunities for growth within the snacking space and broader food category and we are excited to make this step in our evolution. The Company is well positioned given its loyal Atkins brand consumer base, strong leadership, dedicated team members, and relevance with key retailers.Jim Kilts — Chairman, The Simply Good Foods Company (Conyers Park executive founder)
Quest Nutrition is a fast-growing active-lifestyle healthy-food company with a highly engaged consumer base. Its on-trend philosophy focuses on creating snacks that contain high protein levels with minimal sugars and net carbohydrates, across bars, shakes, confections, cookies, chips and pizza. The transaction was structured as the purchase of 100% of the equity of Voyage Holdings, LLC and VMG Quest Blocker, Inc. from Quest's founders and other equity holders. $1.0 billion in cash (approximately $870 million net of tax benefits), on a cash-free and debt-free basis.
The acquisition of Quest strengthens Simply Good Foods' position within the nutritional snacking category by expanding our portfolio of brands and product offerings while also providing us with greater consumer and channel diversification. This combination delivers on our strategy to become a broader nutritional snacking company that offers consumers a broad range of brands and products that satisfy their nutritional needs.Joseph E. Scalzo — President & CEO, The Simply Good Foods Company
The acquisition of Quest brings together two great nutritional snacking brands that provide the combined business with greater consumer and channel diversification. The combination creates a unique, diversified nutritional snacking portfolio that offers consumers and retailers a broad range of products — bars, shakes, confections, cookies, chips and pizza - to satisfy their nutritional snacking needs.Joseph E. Scalzo — President & CEO, The Simply Good Foods Company (closing release, Nov 7, 2019)
Joseph Scalzo, Q1 FY2020 earnings call (Jan 9, 2020): "With the closing of the Quest acquisition on November 7, we fulfilled a strategic initiative of acquiring a fast growing on trend business... One of our main objectives in 2020 is the integration of Quest. This work is well underway and progressing as planned... Importantly, Quest is tracking to the acquisition model and the full calendar year 2019 net sales and EBITDA we discussed on prior conference calls."
Only What You Need (OWYN) is the leading plant-based, allergen-free ready-to-drink (RTD) protein shake brand and the fastest-growing RTD protein shake brand in the market. Launched in 2017, OWYN focuses on truth and transparency with high-protein, minimal-sugar, low-net-carb shakes, and has strong relationships with blue-chip customers in measured and natural channels plus a profitable, growing e-commerce business. Simply Good Foods acquired OWYN from existing investor United Nutritional Brands, an affiliate of Purchase Capital LLC, and other minority investors. $280 million in cash.
The acquisition of OWYN represents a significant strategic win for Simply Good Foods. It introduces a third complementary brand and opens the door to a new consumer segment, significantly strengthening our position in the rapidly expanding RTD shake market and solidifying our leading position with retail partners.Geoff Tanner — President & CEO, The Simply Good Foods Company
Since OWYN's launch in 2017, our goal has been to bring truth and transparency to everything we do while providing the best tasting RTD protein shakes in the market. This transaction is a continuation of our mission as Simply Good Foods is also committed to providing its consumers with quality products focused on high protein, minimal sugars and low levels of net carbohydrates.Mark Olivieri — President & CEO of OWYN (Senior Vice President and General Manager, OWYN, post-close)