Simply Good Foods Co acquired Only What You Need, Inc. (OWYN) for $280 million in cash, a transaction completed in June 2024, structured as all cash (funded with balance-sheet cash and incremental term-loan borrowings).
Only What You Need, Inc. (OWYN) operates in Nutritional snacking - ready-to-drink protein shakes / OWYN brand, is based in United States (New York, NY), had revenue of about Approximately $120 million expected net sales for calendar year 2024 (estimated twelve months ending December 31, 2024). 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.
The acquisition of OWYN brings a third, complementary brand to Simply Good Foods and further enhances its presence in the fast-growing RTD shake segment, reaching a new, incremental consumer segment that strengthens the company's category-leading presence with retail customers. Management expects to accelerate profitable growth through distribution gains, increased household penetration and leveraging a cost-efficient supply chain.
Fastest-growing RTD protein shake brand with top-tier net sales growth, a differentiated plant-based and allergen-free positioning, blue-chip customer relationships and a profitable e-commerce business that reaches an incremental consumer segment for Simply Good Foods. Accelerated distribution gains, increased household penetration, cross-channel reach with retail customers, cost-efficient supply chain leverage and combined R&D to enhance core product performance and unlock white-space innovation. Operated as the OWYN brand within Simply Good Foods; OWYN CEO Mark Olivieri retained to lead the OWYN team through integration (later Senior Vice President and General Manager, OWYN)
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)
Advisory firms were not disclosed for this transaction.