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.