USA: Simply Good Foods to acquire protein shake brand Only What You Need

Simply Good Foods, a US-based manufacturer and distributor of nutritional foods and snacks, has announced the acquisition of Only What You Need (OWYN), a 100% plant-based ready-to-drink protein shake brand and portfolio company of Purchase Capital.

Headquartered in New York and founded in 2017, OWYN is described as a leading shake brand offering products that are high in protein but low in sugars and other carbohydrates. The company’s product range is described as including Original 20g Protein Shakes, Pro Elite 32g Protein Shakes, Complete Nutrition Shakes, Protein Powders and Doubleshot Protein Coffee Shakes.

Commenting on the agreement, Simply Good Foods president and CEO Geoff Tann said: “The acquisition of Only What You Need is strategically compelling as it brings a third, complementary brand to Simply Good Foods and further enhances our presence in the fast-growing RTD shake segment”.

“Over the last few years, OWYN’s net sales growth rate has been top tier within the nutritional snacking category”, he added. “In 2024, we expect OWYN will achieve net sales of approximately $120 million (€112 million). They have strong relationships with blue-chip customers in both measured and natural channels and have an impressive, profitable and growing E-commerce business”.

According to the financial terms agreed, the $280 million (€260 million) purchase price will be paid in cash.

Source: Simply Good Foods