|Owner||Roark Capital Group|
Atkins founded Atkins Nutritionals, Inc. in 1989 to promote the low-carbohydrate products of his increasingly popular Atkins diet. This diet was developed after Atkins read a research paper in the Journal of the American Medical Association. The paper, entitled "Weight Reduction," was published by Alfred W. Pennington in 1958. Atkins used information from the study to resolve his own overweight condition.
In October 2003 Parthenon Capital LLC and Goldman Sachs both acquired stakes in the company. Following the death of its founder in 2003, the popularity of the diet and demand for Atkins products waned, causing Atkins Nutritionals Inc. to file for bankruptcy in July 2005, citing losses of $340 million.
The company emerged from bankruptcy in 2007 owned by North Castle Partners, with a softened marketing emphasis on the low-carbohydrate aspect of its products and an attempt to emphasize the overall nutritional value of its line of foods. It now has in place a business strategy concentrating on sales of nutrition bars and shakes.
Roark Capital Group bought the company in 2010. Under Roark it has stabilized but it is rumored to be a disappointment and its 6 year hold period is longer than typical for private equity firms. In February 2015 it was reported that Roark was seeking to sell the company but no buyer ever materialized.
- "Atkins Nutritionals files for bankruptcy". AP. 1 August 2005. Retrieved 16 August 2012.
- Walsh, Fiona (10 December 2010). "Atkins diet firm sells out to Roark Capital". The Guardian. Retrieved 16 August 2012.