DENVER – The Simply Good Foods Co. is acquiring Only What You Need (OWYN), New York, a manufacturer of plant-based, ready-to-drink protein shakes, for $280 million.
“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,” said Geoff Tanner, president and chief executive officer of Simply Good Foods. “Additionally, OWYN reaches a new, incremental consumer segment that strengthens our category leading presence with retail customers.”
Tanner added that Simply Good Foods expects OWYN to reach approximately $120 million in sales in 2024.
“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,” said Mark Olivieri, president and CEO of OWYN. “I’m extremely proud of everything the OWYN team has accomplished in establishing a $120 million brand in such a short time.”