DENVER — The Simply Good Foods Co. is expanding its portfolio by completing the acquisition of plant-based, ready-to-drink protein shake brand Only What You Need (OWYN). The company unveiled plans to acquire OWYN in April for $280 million from GroundForce Capital, which is OWYN’s second-largest shareholder, according to the company.

OWYN was founded in 2017 by Kathryn Moos and Jeff Mroz and manufactures its beverages with a blend of pea, pumpkin and flax.

OWYN will join Simply Good Foods brands Quest, a better-for-you bar, ready-to-drink shakes, cookies, chips and pizza maker, and Atkins, a weight management brand focused on low carb diet foods.

“The acquisition of OWYN represents a significant strategic win for Simply Good Foods,” said Geoff Tanner, president and chief executive officer of 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. We are confident our market strategies will drive profitable growth through enhanced distribution, greater household penetration and a cost-efficient supply chain. We also plan to lean on the expertise of our combined R&D teams to improve fundamental product performance and explore new areas for innovation. OWYN has shown exceptional net sales growth in the nutritional snacking category in recent years, and we believe that will continue.”

GroundForce Capital initially invested in OWYN in 2019.

“We were honored to support CEO Mark Olivieri and the entire OWYN team in helping them take the original vision of founders Kathryn Moos and Jeff Mroz and build it into an extraordinary brand and company,” said Mark Rampolla, co-founder and managing partner of GroundForce Capital. “We look forward to seeing OWYN continue to grow, thrive, and endure for decades to come.”

Mark Olivieri, senior vice president and general manager of OWYN, added the company expects OWYN will achieve net sales of approximately $120 million in 2024.

“We are building on our strong relationships with major customers in both traditional and natural markets and have a thriving, profitable and expanding eCommerce business,” Olivieri said.

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