The parent company of the Atkins line of foods is making an acquisition to expand and complement its line of protein-rich products.
Simply Good Foods Co., which was established in 2017 to control the Atkins line, is acquiring Quest Nutrition LLC. Quest specializes in protein-rich foods, including pizza, bars, protein and powders. Its products will complement Atkins bars, meal kits and frozen foods, all of which are formulated to meet the Atkins diet principle of emphasizing protein consumption and reducing carbohydrates.
The Wall Street Journal reports that Quest, founded in 2010, is expected to post sales of $345 million this year.
Atkins Nutritionals was founded in 1989 to capitalize on the popularity of the Atkins diet. But as the high-protein, low-carb fad waned in the 2000s, the company foundered and was acquired in 2010 by a venture capital firm. It was spun off and merged with Conyers Park Acquisition Corp. in 2017. That same year, it acquired Wellness Foods, a Canadian marketer of high-protein bars and snacks.