Simply Good Foods Co (SMPL): M&A transaction — Simply Good Foods completes $280M acquisition of plant-based RTD shake brand OWYN

Simply Good Foods Co

Acquired 100% of OWYN for $280M in cash, funded by $250M incremental term loan and balance sheet cash.
OWYN expected to generate ~$120M net sales in calendar 2024; fastest-growing RTD protein shake brand.
Targeting net debt to Adjusted EBITDA ratio of ~1.25x by fiscal year-end August 2024.
Base business (ex-OWYN) on track with prior FY2024 outlook; full-year guidance update on June 27 earnings call.
Total term loan debt of $490M post-close; incremental portion priced at par with SOFR+2.75% all-in margin.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Simply Good Foods Co completed an acquisition involving Only What You Need, Inc. for $280,000,000 (closed 2024-06-13).

Action: acquisition
Counterparty: Only What You Need, Inc.
Consideration: $280,000,000
Closing: 2024-06-13

Exact text from the filing

On June 13, 2024, pursuant to the Purchase Agreement, Simply USA completed the acquisition (the “ Acquisition ”) of the Target by acquiring 100% of the equity interests of the Target for a cash purchase price of $280,000,000 (subject to customary adjustments for the Target’s levels of cash, indebtedness, net working capital and transaction expenses as of the closing).

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Simply Good Foods Co filing history →

Source: SEC EDGAR

accession 0001104659-24-072273

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