Atkins bar maker to acquire Quest Nutrition for $1 billion
Simply Good Foods, a developer, marketer, and seller of branded nutritional foods and snacking products, and Quest Nutrition, a healthy lifestyle food company, have entered into a definitive agreement under which Simply Good Foods will acquire Quest for $1 billion in cash.
Simply Good Foods, a developer, marketer, and seller of branded nutritional foods and snacking products, and Quest Nutrition, a healthy lifestyle food company, have entered into a definitive agreement under which Simply Good Foods will acquire Quest for $1 billion in cash.
Quest is a fast-growing active lifestyle brand with a highly engaged consumer base. Its on-trend philosophy focuses on creating snacks that contain high protein levels with minimal sugars and net carbohydrates. The pairing of Atkins and Quest unites well-established brands with attractive growth profiles that results in a leading nutritional snacking company with combined estimated net sales of over $800 million and strong operating margins.
“The acquisition of Quest strengthens Simply Good Foods’ position within the nutritional snacking category by expanding our portfolio of brands and product offerings while also providing us with greater consumer and channel diversification,” said Joseph E. Scalzo, president and CEO of Simply Good Foods. “This combination delivers on our strategy to become a broader nutritional snacking company that offers consumers a broad range of brands and products that satisfy their nutritional needs. We also believe that our collective brands will benefit from increased cross-selling and marketing opportunities, as well as enhanced go-to-market strategies that will drive meaningful net sales and earnings growth.”
Upon the closing of the transaction, Dave Ritterbush, president and CEO of Quest, will join Simply Good Foods’ board of directors.