Simply Good Foods Co acquires Only What You Need, Inc. (OWYN)

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)