Simply Good Foods Company to Acquire Quest Nutrition For $1 Billion!
In a shocking turn of events it appears that popular supplement brand Quest Nutrition is being sold to Simply Good Foods.
Founded in 2010, Quest Nutrition has been established as a brand that focused on producing great tasting foods that are still good for you. With so many brands on the market that fill their products with junk, Quest Nutrition stood for high quality products meant to be enjoyable while cutting out all the unnecessary garbage in processed foods.
Simply Good Foods has also established itself as a brand wish the mission of producing healthy foods for the marketplace. With the acquisition of Quest Nutrition, Simply Good Foods continues to build upon it’s already popular brand.
But the price tag wasn’t cheap by any means.
Reportedly, Quest Nutrition has been bought out for an astounding $1 Billion, one of the biggest acquisitions of its kind in the food and supplement industry.
“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. Quest is supported by an innovative spirit and dedicated employees committed to supporting consumers’ healthy lifestyles, and both Quest and our existing brands will benefit from sharing best practices and insights in marketing, distribution and supply chain management to deliver on our commitment to customers and consumers. Upon the closing of the transaction we look forward to working with Dave Ritterbush, President and Chief Executive Officer of Quest, and his team, and welcoming Dave to the Simply Good Foods Board of Directors.”
The President and CEO of Quest Nutrition, Dave Ritterbush had this to say about the acquisition:
“We are excited to join the Simply Good Foods family and I’m personally pleased to be joining the Simply Good Foods Board of Directors upon closing, as we collectively drive the next stage of Quest’s growth,” said Ritterbush. “The Simply Good Foods team has a strong track record in building leading nutrition brands and I feel that Quest will fit perfectly in their overall mission. As part of Simply Good Foods, Quest will benefit from the combination of two great organizations focused on providing consumers with healthier food choices. I’m incredibly proud of everything that Quest and our team has accomplished and excited for the next phase of our growth by joining a larger, more diverse nutritional snacking company.”
What do you make of this massive sale and acquisition?