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The Simply Good Foods Company (SMPL) is a consumer packaged food and beverage company headquartered in Denver, Colorado. It focuses on the nutritious snacking market, offering a variety of better-for-you snacks and meal replacements. The company markets its products under the Quest®, Atkins®, and OWYN® brands, which include protein bars, ready-to-drink shakes, sweet and salty snacks, and confectionery items.
- Quest® - Offers protein-rich foods and beverages designed for consumers seeking to limit sugars and simple carbohydrates, including protein bars, RTD shakes, and snacks.
- Atkins® - Provides products catering to a low-carb lifestyle, including meal replacements, snacks, and confectionery items.
- OWYN® - Focuses on plant-based protein products, including shakes and beverages, targeting health-conscious consumers.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Geoff E. Tanner ExecutiveBoard | President and Chief Executive Officer | Member of the Johnsonville Meat LLC Board of Directors | Geoff E. Tanner has served as the President and Chief Executive Officer of SMPL since July 7, 2023. Previously, he held the roles of President, Chief Operating Officer, and CEO-Elect from April 3, 2023 to July 7, 2023 and has extensive leadership experience in the consumer food industry from his tenure at The J.M. Smucker Company and Big Heart Pet Brands. | View Report → |
Amy C. Held Executive | Senior Vice President and Chief Human Resources Officer | Amy C. Held is the Senior Vice President and Chief Human Resources Officer at SMPL since June 2024, after serving in an elect role from March 2024 to June 2024. | ||
Mark A. Olivieri Executive | Senior Vice President and General Manager of OWYN | Mark A. Olivieri, Jr. has served as Senior Vice President and General Manager of OWYN since June 2024. He previously served as CEO of Only What You Need, Inc. from August 2021 to June 2024 and held roles as President (October 2019 to August 2021) and Chief Marketing Officer (2017 to October 2021). | ||
Ryan A. Thomas Executive | Senior Vice President, General Manager Atkins Marketing | Ryan A. Thomas is the Senior Vice President, General Manager of Atkins Marketing at SMPL since October 9, 2023. Previously, he served as Chief Commercial Officer at Post Holdings, Inc. and held various executive roles at The J.M. Smucker Company. | ||
Shaun P. Mara Executive | Chief Financial Officer (CFO) | Shaun P. Mara is the CFO of SMPL since October 27, 2022, and previously served as Senior Vice President of Strategy and Business Development from June 2019 to October 27, 2022. | ||
Stuart E. Heflin Executive | Senior Vice President and General Manager, Quest marketing | Stuart E. Heflin, Jr. is the Senior Vice President and General Manager, Quest marketing at SMPL since October 2023. He previously served in multiple leadership roles at SMPL including Senior Vice President, Quest Brand Marketing from April 2022 to October 2023. | ||
Timothy A. Matthews Executive | Vice President, Controller, and Chief Accounting Officer | Timothy A. Matthews is currently the Vice President, Controller, and Chief Accounting Officer at SMPL since July 2017. He previously served in the same role at Atkins Nutritionals, Inc. starting November 2016. | ||
Timothy R. Kraft Executive | Chief Legal and Corporate Affairs Officer | Timothy R. Kraft is the current Chief Legal and Corporate Affairs Officer at SMPL since June 2024. He previously served as Chief Legal Officer and Corporate Secretary from October 2019 to June 2024 and held roles such as Compliance Officer and General Counsel at SMPL. |
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In light of management’s comments that Quest and OWYN gains are expected to offset the losses seen with Atkins in key channels, can you elaborate on how you plan to manage the timing mismatches between these brands’ reset cycles to ensure overall positive SKU performance?
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With a noted 10‐point margin gap between Atkins and Quest—exacerbated by inflationary pressures on raw materials—what concrete steps will you take to narrow this gap over the next 12–18 months, and how might persistent cost pressures impact these efforts?
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Considering OWYN’s impressive velocity gains despite low household penetration, what specific strategies and key performance indicators are you deploying to accelerate both distribution expansion and consumer awareness?
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Given the uncertainty around tariffs and their potential to affect 15–20% of total COGS, what contingency plans or productivity initiatives are in place to mitigate the adverse impact on your gross margins if tariff conditions worsen?
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As you reduce Atkins’ physical footprint in favor of investing in higher‐yielding Quest and OWYN innovations, how will you balance the risk of consumer disengagement from Atkins with the need to maintain a sustainable weight-loss brand, and which metrics will you use to monitor its turnaround?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Walmart | At-will contract | All | 31% of FY 2024 consolidated sales ; 28% of accounts receivable ($41.9 million) as of August 31, 2024. |
Amazon | At-will contract | All | 18% of FY 2024 consolidated sales ; 34% of accounts receivable ($51.4 million) as of August 31, 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Only What You Need, Inc. (OWYN) | 2024 | Completed in 2024 at a final cash price of $281.9 million, funded through a mix of $250 million in incremental borrowings and cash on hand, with additional transaction costs of $14.5 million incurred. The acquisition strategically expands Simply Good Foods' portfolio into the fast-growing plant-based RTD protein shake market, leveraging OWYN’s strong sales growth, brand leadership, and complementary capabilities. |
Recent press releases and 8-K filings for SMPL.
- Strong Financial Performance: Net sales of $359.7 million (up 15.2% YoY), net income of $36.7 million (up 10.9% YoY), and adjusted EBITDA of $68.0 million (up 17.6% YoY) in Q2 2025 .
- Reaffirmed FY2025 Guidance: The company expects net sales growth of 8.5-10.5% (alternatively noted as 4-6%) and adjusted EBITDA growth of 4-6% .
- Operational Highlights: Adjusted Diluted EPS of $0.46 underscores strong operating performance alongside the successful integration of the OWYN acquisition .
- Brand & Segment Momentum: Quest grew 13% (now 60% of net sales and approaching a $1 billion milestone), OWYN surged 52% (targeting net sales of $140-150 million), while Atkins declined 10% .
- Leadership Transition: CFO Shaun Mara announced his retirement, with Chris Bealer stepping in as the new Senior Vice President of Finance .
- CFO Shaun P. Mara will retire effective July 3, 2025, with Christopher J. Bealer hired to succeed him as CFO.
- The Annual Meeting results include the approval of 11 director nominees, the ratification of Deloitte & Touche LLP as the independent auditor, and an advisory vote on executive compensation.