Goldman Sachs and a private-equity firm bought a majority stake in late 2003 and expanded the product line to 200 low-carb bars and snacks. Atkins Nutritionals filed for Chapter 11 bankruptcy
protection in July 2005; emerging in 2006. Then, two years ago, Monty Sharma and North Castle Partners acquired the company.
As CEO, Sharma has trimmed back to 64 products, including nutrition bars and ready-to-drink shakes, and just launched a $20 million ad campaign. He has also revamped recipes and packaging and hopes a book coming out in March -- A New Atkins, A New You -- will reverse recent fortunes. One big difference: Atkins now urges people to munch their veggies. "No more of the 'meat all the time,'" says Sharma. "People have to eat vegetables too."
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