Roark Capital Group, an Atlanta-based private equity firm, announced last Friday that its affiliates have acquired Atkins Nutritionals, a leading international weight control and nutrition brand. Atkins' management team, led by Monty Sharma, will remain with the business and invested alongside Roark Capital in the transaction. Terms of the transaction were not released.
Founded in
1989, Denver, Col.-based, Atkins Nutritionals,
Inc. provides the largest and best-known, scientifically supported,
carbohydrate-optimization weight-management program in the world and is the
second-largest U.S.
weight management brand at retail. The company markets Atkins diet-compliant nutrition bars, shakes and better-for-you
confections under the Atkins Advantage
and Atkins Endulge brands.
"We are
very excited to partner with Monty Sharma and his
team to help support the continued growth of the Atkins brand," said Ezra Field, Roark’s managing director. "Atkins is
consistent with our strategy of investing in leading consumer businesses with
strong brands, differentiated market-positions and identifiable growth
opportunities."
Monty
Sharma,
Atkins’ ceo, adds "I'm very pleased to have Roark as a partner to support
the continued growth of the Atkins brand. Their operational approach and the
weight management sector experience they bring make them a terrific partner for
Atkins and its management team going forward."
The company
offers consumers a full suite of weight loss and weight management support
tools online for its Atkins diet
program, which was introduced in the 1960s and has helped millions of people
lose weight since then.
The company
sells its products in the nutritional aisle at approximately 30,000 retail
outlets, across food, drug and mass-merchandiser channels throughout the United
States and in over 20 countries
around the world.
