🏋️ OWYN Acquired By The Simply Good Foods Company

The Simply Good Foods Company (SGFC) is bulking up its brand roster. 

The publicly-traded company announced Monday afternoon that it has secured an agreement with United Nutritional Brands (an affiliate of Purchase Capital LLC), and minority investors to acquire plant-based protein shake maker Only What You Need (OWYN) in a cash transaction valued at $280 million. Terms of the deal were not disclosed.

What does this signal? Become an Insider to get all the deal details and learn about how OWYN has grow as well as what this means for SGFC.

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Net losses may still be steep ($45 million), but Oatly has plenty to be positive about in reading its latest earnings report: thanks to strong performance in North America, those losses are falling, while margin and revenue are on the rise. CEO Jean-Christophe Flatin called the earnings report “encouraging.”

• In North America, volume growth (+11.4%) helped drive revenue up 4.6% ($2.9 million), more than half of which is coming from retail. 
• Across the entire business, revenue improved +1.8% year-over-year to $199.2 million (+1.2% on constant currency basis).
• Supply chain efficiencies are driving real margin gains, Oatly reported: Gross profit margin was 27.1% (+9.7% YoY) in Q1, with gross profit up to $53.9 million ($34.1 million in Q1 2023). 

BevNET Insiders can read all the details from Oatly’s Q1 earnings here.

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