Business
The Simply Good Foods Company Announces Conyers Park Share Distribution
DENVER, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (NASDAQ: SMPL) (“Simply Good Foods” or the “Company”), a developer, marketer and
About this update from The Simply Good Foods Company
[{"type":"text","content":"DENVER, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (NASDAQ: SMPL) (“Simply Good Foods” or the “Company”), a developer, marketer and seller of branded nutritional foods and snacking products, today announced Conyers Park Sponsor, LLC (“Conyers Park Sponsor”), the Company’s largest stockholder, distributed to its unitholders all of the shares of the Company’s common stock previously held by Conyers Park Sponsor. Details of the distribution are as follows: This was a pro rata distribution to members of the Conyers Park Sponsor Investment Team in accordance with the unit ownership interests of the members of Conyers Park Sponsor;The Conyers Park Sponsor’s organizational documents contemplated this distribution would occur on or about the fifth anniversary of the closing of the initial business combination that created Simply Good Foods;Investment entities controlled by James M. Kilts and Brian K. Ratzan and David J. West received a significant majority of the distributed shares (approximately 8 million shares in the aggregate). Messrs. Kilts, Ratzan and West are senior investment professionals of Centerview Capital Consumer and members of the Company’s Board of Directors. Mr. Kilts remains the Company’s Chairman and Mr. West remains Vice Chairman. The remainder of the shares were distributed to unitholders who are neither officers nor directors of Simply Good Foods; andEach of Messrs. Kilts, Ratzan and West have informed the Company that they, and their investment entities as applicable, currently intend to hold onto the shares of the Company’s common stock received in connection with the distribution and remain on the Board. About The Simply Good Foods CompanyThe Simply Good Foods Company (Nasdaq: SMPL), headquartered in Denver, Colorado, is a consumer packaged food and beverage company that aims to lead the nutritious snacking movement with trusted brands that offer a variety of convenient, innovative, great-tasting, better-for-you snacks and meal replacements. The product portfolio we develop, market and sell consists primarily of protein bars, ready-to-drink (“RTD”) shakes, sweet and salty snacks and confectionery products marketed under the Atkins®, Atkins Endulge®, and Quest® brand names. Simply Good Foods is poised to expand its wellness platform through innovation and organic growth along with acquisitio...