GroundForce Capital Announces the Acquisition of OWYN by The Simply Good Foods Company
GroundForce Capital, an investment management firm that backs high-potential B2B and B2C companies seeking to improve the health and longevity of people and the planet, is pleased to announce the sale of Only What You Need (OWYN) to The Simply Good Foods Company (NASDAQ:SMPL) for $280 million. OWYN is the fastest-growing ready-to-drink (RTD)(1) protein shake brand in the market that unites great taste and ingredient transparency. GroundForce Capital is the second-largest shareholder in OWYN.
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GroundForce Capital first invested in OWYN in 2019, driven by an ongoing thesis centered around ingredient transparency in the RTD protein category. All OWYN products contain clean, premium ingredients with zero artificial additives. Since GroundForce Capital's initial investment, OWYN has grown nearly 10x and materially improved all key business fundamentals. This growth was fueled by the acceleration of new product development, a highly successful omni-channel strategy, retail expansion, and a distinctive mainstream brand proposition that resonated with a highly engaged, passionate core consumer base. This acquisition marks a significant milestone for both OWYN and GroundForce Capital, reinforcing their shared mission to bring healthier and more sustainable products to a broader audience.
"We were honored to support CEO Mark Olivieri and the entire OWYN team in helping them take the original vision of founders Kathryn Moos and Jeff Mroz and build it into an extraordinary brand and company," said Mark Rampolla, Co-Founder and Managing Partner of GroundForce Capital. "We look forward to seeing OWYN continue to grow, thrive, and endure for decades to come."
"OWYN's journey exemplifies the kind of growth, impact, and outcome we aim to achieve with all of our investments," said Dan Gluck, Co-Founder and Managing Partner of GroundForce Capital. "This acquisition not only highlights OWYN's success but also underscores the broader trends in the industry towards healthier, more transparent food options. GroundForce Capital will continue to support innovative companies that drive meaningful change in the market."
GroundForce Capital remains committed to investing in B2B and B2C companies tackling the most pressing issues tied to people and the planet within the consumer, food, and food-related sectors.
For The Simply Good Foods Company press release, please visit: https://www.thesimplygoodfoodscompany.com/news-releases/news-release-details/simply-good-foods-company-completes-acquisition-only-what-you.
About GroundForce Capital
GroundForce Capital is an investment management firm that backs high-potential B2B and B2C companies seeking to improve the health and longevity of people and the planet. The firm provides capital, strategic guidance and operating expertise to visionary companies including Bobbie, Liquid Death, OWYN, Miyoko's Creamery, KinderFarms, Thistle, and Vive Organic. GroundForce Capital's leadership team is comprised of innovators behind leading food and beverage brands, such as ZICO Beverages, an early pioneer in the coconut water category acquired by The Coca-Cola Company in 2013, and Health Warrior, a superfood company purchased by PepsiCo in 2018.
GroundForce Capital has offices in the San Francisco Bay Area and Los Angeles. For more information about the Firm, visit GroundForceCapital.com.
(1) Source: Total MULO Dollar Sales for the 52 Week Period Ending 3/24/24.
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