The Simply Good Foods Company Completes Milestone In Quest Nutrition Acquisition Integration

Overall Integration Timeline, Milestones and Synergy Realization on Track

DENVER, May 27, 2020 (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 its future-state organization design in connection with the integration of its completed acquisition of Quest Nutrition, LLC (“Quest”).

The new organization design, which will become effective on August 31, 2020, will create an efficient and fully integrated organization that will continue to support and build two multi-category nutritional snacking brands in Atkins and Quest.  The new organization design creates a deep and experienced omni-channel sales team, maintains the Company’s consumer-led brand marketing approach, results in a flexible and efficient supply chain, and delivers a corporate support platform built for scale and future M&A.  Through this milestone, the Company also remains on target to achieve its annualized synergy goal of $20 million by the end of fiscal 2022 as announced in connection with the Quest acquisition.

In the new organization design, the Company’s corporate staff will remain the same, led by Joseph Scalzo, President and Chief Executive Officer, Todd Cunfer, Chief Financial Officer, and Timothy Kraft, Chief Legal Officer, and the Company is pleased to announce the following senior commercial leaders who will be assuming added responsibilities in the go-forward business:

• Scott Parker, Chief Marketing Officer for Atkins;
• Linda Zink, Chief Marketing Officer for Quest;
• Jill Short Clark, Chief Customer Officer;
• Jeremy Ivie, Senior Vice President of Research & Development and Regulatory (from Quest);
• David Wallis, Senior Vice President of Operations; and
• Tonya Wearner, Senior Vice President of eCommerce (from Quest).

"Since closing the Quest transaction, we have made tremendous progress integrating our two businesses. This integrated organization design is another important step forward in combining our highly complementary businesses to achieve our vision to be the leading company in nutritional snacking," said Joseph E. Scalzo, President and Chief Executive Officer of Simply Good Foods. "This new structure reflects the strengths of both Simply Good Foods and Quest.  It preserves distinct brand-building teams dedicated to the unique characteristics of the brands, while simultaneously establishing the right foundation to leverage the scale of the combined organization in the areas of cross-selling, marketing and product innovation opportunities.  It also provides improved efficiency in our supply chain and customer service functions and facilitates enhanced go-to-market strategies.  We believe this structure will help us drive meaningful net sales and earnings growth into the future.