DENVER — The Simply Good Foods Co. has completed its acquisition of Quest Nutrition, L.L.C., for $1 billion. The company announced its intent to buy Quest in August.
The transaction brings together Simply Good Foods’ Atkins brand with Quest’s portfolio of low carb and low sugar protein bars, cookies, chips, pizzas, shakes and powders. The combined portfolio is estimated to earn approximately $900 million in annual net sales, according to Simply Good Foods.
“The acquisition of Quest Nutrition brings together two great nutritional snacking brands that provide the combined business with greater consumer and channel diversification,” said Joseph E. Scalzo, president and chief executive officer of Simply Good Foods. “The combination creates a unique, diversified nutritional snacking portfolio that offers consumers and retailers a broad range of products to satisfy their nutritional snacking needs.”
The deal marks Simply Good Foods’ first acquisition since launching in 2017, when Conyers Park Acquisition Corp. acquired Atkins Nutritionals Inc. from the Roark Capital Group.