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Simply Good Foods Company To Acquire Quest Nutrition For $1B In Cash

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The Simply Good Foods Company (NASDAQ: SMPL) announced it will acquire Quest Nutrition, LLC, for $1 billion in cash, or approximately $870 million net of tax benefits, on a cash-free and debt-free basis.

The Simply Good Foods Company is a developer, marketer and seller of branded nutritional foods and snacking products and Quest Nutrition is a healthy lifestyle food company.

“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 Scalzo, CEO of Simply Good Foods in a statement.

“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.”

Simply Good Foods Company shares were trading up 0.73% at $27.55 in Thursday’s pre-market session. The stock has a 52-week high of $28.16 and a 52-week low of $16.55.

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