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Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Aug. 31, 2019	Oct. 25, 2019	Feb. 22, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Simply Good Foods Co.
Entity Central Index Key	0001702744
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-K
Document Period End Date	Aug. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		95,294,519
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,446,089

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Current assets:
Cash and cash equivalents	$ 266,341	$ 111,971
Accounts receivable, net	44,240	36,622
Inventories	38,085	30,001
Prepaid expenses	2,882	2,069
Other current assets	6,059	5,077
Total current assets	357,607	185,740
Long-term assets:
Property and equipment, net	2,456	2,565
Intangible assets, net	306,139	312,643
Goodwill	471,427	471,427
Other long-term assets	4,021	2,230
Total assets	1,141,650	974,605
Current liabilities:
Accounts payable	15,730	11,158
Accrued interest	1,693	582
Accrued expenses and other current liabilities	29,933	15,875
Current portion of TRA liability	0	2,320
Current maturities of long-term debt	676	648
Total current liabilities	48,032	30,583
Long-term liabilities:
Long-term debt, less current maturities	190,259	190,935
Long-term portion of TRA liability	0	25,148
Deferred income taxes	65,383	54,475
Other long-term liabilities	532	863
Total liabilities	304,206	302,004
Stockholders' equity:
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value, 600,000,000 shares authorized, 81,973,284 and 70,605,675 issued at August 31, 2019 and August 25, 2018, respectively	820	706
Treasury stock, 98,234 and 0 shares at cost at August 31, 2019 and August 25, 2018, respectively	(2,145)	0
Additional paid-in-capital	733,775	614,399
Retained earnings	105,830	58,294
Accumulated other comprehensive loss	(836)	(798)
Total stockholders' equity	837,444	672,601
Total liabilities and stockholders' equity	$ 1,141,650	$ 974,605

Consolidated Balance Sheets (Parentheticals) - $ / shares	Aug. 31, 2019	Aug. 25, 2018
Statement of Financial Position [Abstract]
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock shares authorized (in shares)	100,000,000	100,000,000
Preferred stock shares issued (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized (in shares)	600,000,000	600,000,000
Common stock shares issued (in shares)	81,973,284	70,562,477
Common stock shares outstanding (in shares)	81,875,050	70,562,477
Treasury stock (in shares)	98,234	0

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Net sales	$ 56,334		$ 523,383	$ 431,429
Cost of goods sold	39,584		305,978	251,063
Gross profit	16,750		217,405	180,366
Operating expenses:
Selling and Marketing Expense	6,937		67,488	59,092
General and administrative	6,969		61,972	49,635
Depreciation and amortization	985		7,496	7,498
Depreciation and amortization	1,000		7,644	7,672
Business transaction costs	0		7,107	2,259
Loss (gain) in fair value change of contingent consideration - TRA liability	0		533	(2,848)
Total operating expenses	14,891		144,596	115,636
Income from operations	1,859		72,809	64,730
Other income (expense):
Change in warrant liabilities	0		0	0
Interest Income, Other	0		3,826	0
Interest expense	(1,662)		(13,627)	(12,551)
Gain of settlement of TRA liability	0		1,534	0
Gain (loss) on foreign currency transactions	513		(452)	97
Other income	30		196	815
Total other expense	(1,119)		(8,523)	(11,639)
Income before income taxes	740		64,286	53,091
Income tax expense (benefit)	290		16,750	(17,364)
Net income (loss)	450		47,536	70,455
Other comprehensive income:
Foreign currency translation adjustments	19		(38)	(817)
Comprehensive income (loss)	$ 469		$ 47,498	$ 69,638
Earnings per share from net income:
Basic (in dollars per share)	$ 0.01		$ 0.59	$ 1.00
Diluted (in dollars per share)	$ 0.01		$ 0.56	$ 0.96
Weighted average shares outstanding:
Basic (in shares)	70,562,477		80,734,091	70,582,149
Incremental Common Shares Attributable to Dilutive Effect of Stock Options	0		801,700	43,779
Diluted (in shares)	71,254,770.00		85,243,909	73,681,355
Predecessor
Net sales		$ 339,837
Cost of goods sold		200,026
Gross profit		139,811
Operating expenses:
Selling and Marketing Expense		47,494
General and administrative		34,567
Depreciation and amortization		8,409
Depreciation and amortization		8,617
Business transaction costs		25,608
Loss (gain) in fair value change of contingent consideration - TRA liability		0
Total operating expenses		116,078
Income from operations		23,733
Other income (expense):
Change in warrant liabilities		722
Interest Income, Other		0
Interest expense		(22,724)
Gain of settlement of TRA liability		0
Gain (loss) on foreign currency transactions		133
Other income		221
Total other expense		(21,648)
Income before income taxes		2,085
Income tax expense (benefit)		4,570
Net income (loss)		(2,485)
Other comprehensive income:
Foreign currency translation adjustments		(199)
Comprehensive income (loss)		$ (2,684)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Operating activities
Net income	$ 450		$ 47,536	$ 70,455
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,000		7,644	7,672
Amortization of deferred financing costs and debt discount	192		1,352	1,312
Stock compensation expense	412		5,501	4,029
Change in warrant liabilities	0		0	0
Loss (gain) in fair value change of contingent consideration - TRA liability	0		533	(2,848)
Gain on settlement of TRA liability	0		(1,534)	0
Unrealized (gain) loss on foreign currency transactions	(513)		452	(97)
Deferred income taxes	(382)		10,908	(21,108)
Loss on disposal of property and equipment	0		6	128
Changes in operating assets and liabilities:
Accounts receivable, net	(5,556)		(7,985)	267
Inventories	4,130		(8,272)	(1,081)
Prepaid expenses	(1,107)		(824)	847
Other current assets	5,340		(2,155)	3,094
Accounts payable	2,089		4,734	(3,603)
Accrued interest	561		1,111	21
Accrued expenses and other current liabilities	(34,096)		13,961	1,962
Other	124		74	(12)
Net cash provided by (used in) operating activities	(27,356)		73,042	61,038
Investing activities
Purchases of property and equipment	(458)		(1,037)	(1,770)
Proceeds from sale of property and equipment	0		0	14
Issuance of note receivable	0		(750)	0
Acquisition of business, net of cash acquired	(600,825)		0	(1,757)
Cash withdrawn from trust account	403,979		0	0
Net cash used in investing activities	(197,304)		(1,787)	(3,513)
Financing activities
Proceeds from option exercises	0		706	120
Cash received from warrant exercises	0		113,464	232
Tax payments related to issuance of restricted stock units	0		(181)	(120)
Repurchase of common stock	0		(2,145)	0
Excess tax benefits of stock-based compensation	0		0	0
Deferred financing costs	0		0	(319)
Settlement of TRA liability	0		(26,468)	0
Principal payments of long-term debt	0		(2,000)	(1,500)
Proceeds from issuance of private placement equity, net of issuance costs	97,000		0	0
Proceeds from issuance of long term debt, net of issuance costs	191,899		0	0
Payment of Conyers Park deferred equity issuance costs	(8,100)		0	0
Net cash provided by (used in) financing activities	280,799		83,376	(1,587)
Cash and cash equivalents
Net increase in cash	56,139		154,631	55,938
Effect of exchange rate on cash	159		(261)	(468)
Cash at beginning of period	203		111,971	56,501
Cash and cash equivalents at end of period	56,501	$ 203	266,341	111,971
Supplemental disclosures of cash flow information
Cash paid for interest	909		11,164	11,218
Cash paid for taxes	0		$ 7,451	$ 4,577
Predecessor
Operating activities
Net income		(2,485)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		8,617
Amortization of deferred financing costs and debt discount		1,950
Stock compensation expense		2,441
Change in warrant liabilities		(722)
Loss (gain) in fair value change of contingent consideration - TRA liability		0
Gain on settlement of TRA liability		0
Unrealized (gain) loss on foreign currency transactions		(133)
Deferred income taxes		(3,880)
Loss on disposal of property and equipment		0
Changes in operating assets and liabilities:
Accounts receivable, net		14,447
Inventories		1,912
Prepaid expenses		36
Other current assets		(10,548)
Accounts payable		(7,246)
Accrued interest		(3,615)
Accrued expenses and other current liabilities		21,459
Other		(294)
Net cash provided by (used in) operating activities		21,939
Investing activities
Purchases of property and equipment		(498)
Proceeds from sale of property and equipment		0
Issuance of note receivable		0
Acquisition of business, net of cash acquired		(19,960)
Cash withdrawn from trust account		0
Net cash used in investing activities		(20,458)
Financing activities
Proceeds from option exercises		109
Cash received from warrant exercises		0
Tax payments related to issuance of restricted stock units		0
Repurchase of common stock		0
Excess tax benefits of stock-based compensation		(59)
Deferred financing costs		0
Settlement of TRA liability		0
Principal payments of long-term debt		(53,586)
Proceeds from issuance of private placement equity, net of issuance costs		0
Proceeds from issuance of long term debt, net of issuance costs		0
Payment of Conyers Park deferred equity issuance costs		0
Net cash provided by (used in) financing activities		(53,536)
Cash and cash equivalents
Net increase in cash		(52,055)
Effect of exchange rate on cash		(10)
Cash at beginning of period	$ 26,427	78,492
Cash and cash equivalents at end of period		26,427
Supplemental disclosures of cash flow information
Cash paid for interest		24,334
Cash paid for taxes		$ 12,711

Consolidated Statement of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income	Treasury Stock
Balance, Treasury (in shares) at Aug. 27, 2016						0
Balance (in shares) (Predecessor) at Aug. 27, 2016		508,132
Balance (Predecessor) at Aug. 27, 2016	$ (27,834)	$ 5	$ (43,551)	$ 16,155	$ (443)
Balance at Aug. 27, 2016						$ 0
Condensed Statement of Stockholders' Equity
Net income \| Predecessor	(2,485)			(2,485)
Stock compensation \| Predecessor	2,441		2,441
Foreign currency translation adjustment \| Predecessor	(199)				(199)
Issuance of Restricted Stock Unit \| Predecessor	(59)		(59)
Exercise of options to purchase common stock (in shares) \| Predecessor		387
Exercise of options to purchase common stock \| Predecessor	109		109
Balance, Treasury (in shares) at Jul. 06, 2017						0
Balance (in shares) (Predecessor) at Jul. 06, 2017		508,519
Balance (in shares) at Jul. 06, 2017		70,562,477
Balance (Predecessor) at Jul. 06, 2017	(28,027)	$ 5	(41,060)	13,670	(642)
Balance at Jul. 06, 2017	597,821	$ 706	609,726	(12,611)	0	$ 0
Condensed Statement of Stockholders' Equity
Net income	450			450
Stock compensation	412		412
Foreign currency translation adjustment	19				19
Balance, Treasury (in shares) at Aug. 26, 2017						0
Balance (in shares) at Aug. 26, 2017		70,562,477
Balance at Aug. 26, 2017	598,702	$ 706	610,138	(12,161)	19	$ 0
Condensed Statement of Stockholders' Equity
Net income	70,455			70,455
Stock compensation	4,029		4,029
Foreign currency translation adjustment	(817)				(817)
Issuance of Restricted Stock Units (in shares)		12,986
Issuance of Restricted Stock Unit	(120)		(120)
Exercise of options to purchase common stock (in shares)		10,000
Exercise of options to purchase common stock	120		120
Warrant conversion (in shares)		20,212
Warrant conversion	$ 232		232
Balance, Treasury (in shares) at Aug. 25, 2018	0					0
Balance (in shares) at Aug. 25, 2018	70,562,477	70,605,675
Balance at Aug. 25, 2018	$ 672,601	$ 706	614,399	58,294	(798)	$ 0
Condensed Statement of Stockholders' Equity
Net income	47,536			47,536
Stock compensation	5,501		5,501
Foreign currency translation adjustment	$ (38)				(38)
Repurchase of common stock	98,234					98,234
Treasury Stock, Value, Acquired, Cost Method	$ (2,145)					$ (2,145)
Issuance of Restricted Stock Units (in shares)		80,293
Issuance of Restricted Stock Unit	(181)	$ 1	(182)
Exercise of options to purchase common stock (in shares)		87,017
Exercise of options to purchase common stock	706		705
Warrant conversion (in shares)		11,200,299
Warrant conversion	$ 113,464	$ 112	113,352
Balance, Treasury (in shares) at Aug. 31, 2019	98,234					98,234
Balance (in shares) at Aug. 31, 2019	81,973,284	81,973,284
Balance at Aug. 31, 2019	$ 837,444	$ 820	$ 733,775	$ 105,830	$ (836)	$ (2,145)

Nature of Operations and Principles of Consolidation	12 Months Ended
Nature of Operations and Principles of Consolidation	Aug. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Principles of Consolidation	Nature of Operations and Principles of Consolidation Description of Business Conyers Park Acquisition Corp (“Conyers Park”) was formed on April 20, 2016, as a special purpose acquisition company for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Simply Good Foods Company (“Simply Good Foods”) was formed by Conyers Park on March 30, 2017. On April 10, 2017, Conyers Park and NCP-ATK Holdings, Inc. (“Atkins”) announced that they entered into a definitive merger agreement (the “Merger Agreement”). On July 7, 2017 (the “Closing Date”), pursuant to the Merger Agreement, Conyers Park merged into Simply Good Foods, which acquired Atkins. As a result, Atkins became a wholly-owned subsidiary of Simply Good Foods (the “Business Combination”). Simply Good Foods was listed on the Nasdaq Capital Market under the symbol “SMPL” upon consummation of the Business Combination. Atkins was formerly owned by Roark Capital Management, LLC (“Roark”). The Business Combination resulted in Conyers Park controlling the Board of Directors of the combined entity. For accounting purposes, Simply Good Foods is the acquirer and the accounting “Successor” in the Business Combination while Atkins is the acquiree and accounting “Predecessor”. Our financial statement presentation includes the financial statements of Atkins as “Predecessor” for all periods prior to the Closing Date and of Simply Good Foods, including the consolidation of Atkins, for periods after the Closing Date. Simply Good Foods operates in the healthy snacking category. The Atkins brand approach focuses on a healthy eating approach with reduced levels of refined carbohydrates and sugars and encourages the consumption of lean protein, fiber, fruits, vegetables and healthy fats. The Company sells a variety of nutrition bars, shakes and frozen meals designed around the nutrition principles of the Atkins eating approach. Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). The Company maintains its accounting records on a 52/53-week fiscal year, ending on the last Saturday in August. The financial information presented within our consolidated financial statements has been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The accompanying financial statements include Consolidated Balance Sheets for the successor entity for the periods ended August 31, 2019 and August 25, 2018. The remaining financial statements include the successor fifty-three week period ended August 31, 2019, the successor fifty-two week period ended August 25, 2018, the successor period from July 7, 2017 through August 26, 2017, and the predecessor period from August 28, 2016 through July 6, 2017. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context otherwise requires, “we,” “us,” “our” and the “Company” refer to Atkins and its subsidiaries for periods prior to the completion of the Business Combination, and Simply Good Foods and its subsidiaries for periods upon or after the completion of the Business Combination. Reclassification of Prior Year Amounts Certain prior year amounts have been reclassified to conform to the current year presentation including Selling and Marketing expenses, which have been combined as Selling and marketing on the Consolidated Statements of Operations and Comprehensive Income (Loss) and other operating expense, which has been combined with General and administrative expense on the Consolidated Statements of Operations and Comprehensive Income (Loss). Licensing of Frozen Meals On September 1, 2016, the agreement with Bellisio Foods to license Atkins’ frozen meals resulting in royalty income became effective. Royalty income is recorded in net sales for the successor fifty-three week period ended August 31, 2019, the successor fifty-two week period ended August 25, 2018, the successor period from July 7, 2017 through August 26, 2017 and for the predecessor period from August 28, 2016 through July 6, 2017.

Change in Accounting Principle (Notes)

12 Months Ended

Aug. 31, 2019

Change in Accounting Principle [Abstract]

Changes in Accounting Principles

During the fourth quarter ended August 31, 2019, the Company changed its accounting principle related to the presentation of third party delivery costs associated with shipping and handling activities previously included as operating expenses in Distribution in the Consolidated Statements of Operations and Comprehensive Income (Loss). The Company is now presenting these expenses within cost of goods sold in the Consolidated Statements of Operations and Comprehensive Income (Loss). In connection with the change in accounting principle, the Company also changed its definition of shipping and handling costs to include costs paid to third-party warehouse operators associated with delivering product to a customer, previously included in General and administrative and Depreciation and amortization of the assets at the third-party warehouse, previously included in Depreciation and amortization. Under the previous definition of shipping and handling costs, the Company only included third-party delivery costs in Distribution.

The Company believes that this change is preferable as outbound freight and distribution center expenses represent direct costs associated with the sale of our products, it better aligns these costs with the related revenue in the gross profit calculation and it improves comparability with the Company’s peers. The accounting policy change was applied retrospectively to all periods presented and the Consolidated Statements of Operations and Comprehensive Income (Loss) reflect the effect of this accounting principle change for all periods presented. This reclassification had no effect on income from operations, net income (loss) or earnings per share. The Consolidated Balance Sheets, Consolidated Statements of Stockholders’ Equity (Deficit), and the Consolidated Statements of Cash Flows are not affected by this change in accounting principle. The effect of the adjustment is as follows:



Fifty-Three Weeks Ended August 31, 2019	Under Previous Method	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Reported
Cost of goods sold	273,682	32,296		—	305,978
Distribution	23,387	(23,387	)	—	—
General and administrative	70,712	(8,761	)	21	61,972
Depreciation and amortization	7,644	(148	)	—	7,496

Fifty-Two Weeks Ended August 25, 2018	As Reported	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Adjusted
Cost of goods sold	223,873	27,190		—	251,063
Distribution	19,685	(19,685	)	—	—
General and administrative	56,333	(7,331	)	633	49,635
Depreciation and amortization	7,672	(174	)	—	7,498

From July 7, 2017 through August 26, 2017	As Reported	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Adjusted
Cost of goods sold	35,941	3,643		—	39,584
Distribution	2,784	(2,784	)	—	—
General and administrative	7,813	(844	)	—	6,969
Depreciation and amortization	1,000	(15	)	—	985

From August 28, 2016 through July 6, 2017	As Reported	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Adjusted
Cost of goods sold	179,998	20,028		—	200,026
Distribution	14,970	(14,970	)	—	—
General and administrative	39,276	(4,850	)	141	34,567
Depreciation and amortization	8,617	(208	)	—	8,409



(1	)	Other operating expense has been combined with General and administrative expense on the Consolidated Statements of Operations and Comprehensive Income (Loss).

Summary of Significant Accounting Policies

12 Months Ended

Aug. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates also affect the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand, deposits available on demand and other short-term, highly liquid investments with original maturities of three months or less. Cash equivalents are carried at cost, which approximates fair value.

Accounts Receivable, Net

Accounts receivable, net consists primarily of trade receivables, net of allowances for doubtful accounts, returns and trade promotions. Our products are sold for cash or on credit terms. Our credit terms, which are established in accordance with local and industry practices, typically require payment within 30 days of delivery and may allow discounts for early payment. The Company estimates an allowance for doubtful accounts based upon a review of outstanding receivables, historical collection information and our analysis of customer data. Accounts receivable are written off when determined to be uncollectible. At August 31, 2019 and August 25, 2018, the allowance for doubtful accounts was $0.6 million and $0.7 million, respectively.

Inventories

Inventories are valued at the lower of cost or net realizable value on a first-in, first-out basis, adjusted for the value of inventory that is determined to be excess, obsolete, expired or unsaleable. Obsolete inventory is reserved at 50% for inventory four to six months from expiration, and 100% for items within three months of expiration. Reserves are also taken for certain products or packaging materials when it is determined their cost may not be recoverable. At August 31, 2019 and August 25, 2018, the provision for obsolete inventory was $0.4 million and $0.5 million, respectively.

Property and Equipment, Net

Property and equipment, net is stated at the allocated fair value. Additions to property and equipment are recorded at cost and depreciated straight-line over their estimated useful lives. The general ranges of estimated useful lives are:



Furniture and fixtures	7 years
Computer equipment, software and website development costs	3	-	5 years
Machinery and equipment	7 years
Office equipment	3	-	5 years

Leasehold improvements are amortized over the shorter of the remaining term of the lease or the useful life of the improvement utilizing the straight-line method.

The Company performs impairment tests when circumstances indicate that the carrying value of the asset may not be recoverable. There were no indicators of impairment in the fiscal period ending August 31, 2019, the fiscal period ending August 25, 2018, the successor period from July 7, 2017 through August 26, 2017, and the predecessor period from August 28, 2016 through July 6, 2017.

Goodwill and Intangible Assets

Goodwill and Intangible assets result primarily from the Business Combination and acquisitions. Intangible assets primarily include brands and trademarks with indefinite lives and customer-related relationships with finite lives. Upon acquisition, the purchase price is first allocated to identifiable assets and liabilities, including customer-related intangible assets and trademarks, with any remaining purchase price recorded as Goodwill.

Goodwill and indefinite-lived intangible assets are not amortized, but are tested for impairment on an annual basis, or more frequently if indicators of impairment are present. Our annual impairment tests are conducted at the beginning of the fourth fiscal quarter. Goodwill and indefinite-lived intangible assets are assessed using either a qualitative or a quantitative approach. The qualitative assessment evaluates factors including macro-economic conditions, industry and company-specific factors, legal and regulatory environments, and historical company performance in assessing fair value. If we determine that it is more likely than not that the fair value of the reporting unit is less than its carrying value, a quantitative test is then performed. Otherwise, no further testing is required. When using a quantitative approach, we compare the fair value of the reporting unit to its carrying amount, including goodwill. If the estimated fair value of the reporting unit is less than the carrying amount of the reporting unit, impairment is indicated, requiring recognition of an impairment charge for the differential.

During fiscal 2019, we elected to perform quantitative assessments of goodwill and indefinite-lived intangible assets. Based on the results of the assessments, it was determined that the fair value of goodwill and indefinite-lived intangible assets exceeded their carrying values. Accordingly, no further impairment testing was completed and no impairment charges related to goodwill or indefinite-lived intangibles were recognized during the fiscal period ended August 31, 2019.

Qualitative assessments of goodwill and indefinite-lived intangible assets were performed in 2018 and 2017. Based on the results of assessment, it was determined that it is more likely than not the reporting unit, brands and trademarks had a fair value in excess of carrying value. Accordingly, no further impairment testing was completed and no impairment charges related to goodwill or indefinite-lived intangibles were recognized during the fiscal periods ended August 25, 2018 or August 26, 2017.

Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives. The Company reviews for impairment indicators of finite-lived intangibles and other long-lived assets as described in the “Property and Equipment” significant accounting policy.

Deferred Financing Costs and Debt Discounts

Costs incurred in obtaining long-term financing paid to parties other than creditors are considered a debt discount and are amortized over the terms of the long-term financing agreements using the effective-interest method. Amounts paid to creditors are recorded as a reduction in the proceeds received by the creditor and are considered a discount on the issuance of debt.

Income Taxes

Income taxes include federal, state and foreign taxes currently payable and deferred taxes arising from temporary differences between income for financial reporting and income tax purposes. Deferred tax assets and liabilities are determined based on the differences between the financial statement balances and the tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the fiscal year that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to amounts expected to be realized.

Foreign Currency Translation

For all foreign operations, the functional currency is the local currency. Assets and liabilities of these operations are translated into U.S. dollars using the exchange rate in effect at the end of each reporting period. Income statement accounts are translated at the average exchange rate prevailing during each reporting period. Translation adjustments are recorded as a component of Other comprehensive income (loss). Gains or losses resulting from transactions in foreign currencies are included in Other income (expense).

Advertising Costs

Production costs related to television commercials are expensed when first aired. All other advertising costs are expensed when incurred through Selling and marketing. Total advertising costs were $35.4 million for the fifty-three week period ended August 31, 2019, $34.0 million for the fifty-two week period ended August 25, 2018, $3.8 million for the successor period from July 7, 2017 through August 26, 2017, and $26.6 million for the predecessor period from August 28, 2016 through July 6, 2017.

Production costs related to television commercials not yet aired are included in Prepaid expenses in the accompanying Consolidated Balance Sheets. There were no productions costs related to television commercials not yet aired at August 31, 2019 or August 25, 2018.

Research and Development Activities

The Company’s research and development activities primarily consist of generating and testing new product concepts, new flavors and packaging. The Company expenses research and development costs as incurred related to compensation, facility costs, consulting and supplies. Research and development activities are primarily internal and associated costs are included in General and administrative. The Company’s total research and development expenses were $2.2 million for the fifty-three week period ended August 31, 2019, $2.5 million for the fifty-two week period ended August 25, 2018, $0.4 million for the successor period from July 7, 2017 through August 26, 2017, and $1.9 million for the predecessor period from August 28, 2016 through July 6, 2017.

Share-Based Compensation

The Company uses share-based compensation, including stock options and restricted stock units, to provide long-term performance incentives for its employees and directors. Share-based compensation is recognized on a straight-line basis over the requisite service period of the award based on their grant-date fair value. Forfeitures are recognized as they occur. Share based compensation expense is included within the same financial statement caption where the recipient’s other compensation is reported.

Defined Contribution Plan

The Company sponsors defined contribution plans to provide retirement benefits to its employees. The Company's 401(k) plan and similar plans for non-domestic employees are based on a portion of eligible pay up to a defined maximum. All matching contributions are made in cash. Expense associated with defined contribution plans was $0.6 million for the fifty-three week period ended August 31, 2019, $0.4 million for the fifty-two week period ended August 25, 2018, $0.0 million for the successor period from July 7, 2017 through August 26, 2017, and $0.3 million for the predecessor period from August 28, 2016 through July 6, 2017.

Cost of Goods Sold

Costs of goods sold represent costs directly related to the manufacture and distribution of our products. Such costs include raw materials, co-manufacturing costs, packaging, shipping and handling, third-party distribution and depreciation of distribution center equipment and leasehold improvements.

Shipping and Handling Costs

Shipping and handling costs include costs paid to third-party warehouse operators associated with delivering product to customers, and depreciation and amortization of assets at the third-party warehouse. Shipping and handling costs are recognized in Cost of goods sold. Costs of $32.3 million for the fifty-three week period ended August 31, 2019, $27.2 million for the fifty-two week period ended August 25, 2018, $3.6 million for the successor period from July 7, 2017 through August 26, 2017, and $20.0 million for the predecessor period from August 28, 2016 through July 6, 2017 were recorded relating to products shipped to customers.

Recently Issued and Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard requires lessees to recognize the assets and liabilities that arise from leases on the balance sheet. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements. ASU 2018-11 provides entities another option for transition, allowing entities to not apply the new standard in the comparative periods they present in their financial statements in the year of adoption. The amendments provide the option for the ASU to be applied at the beginning of the period adopted using a modified retrospective approach with earlier application permitted as of the beginning of an interim or annual reporting period. The new guidance is effective for the Company beginning in fiscal 2020. The Company has completed the initial review of its material lease contracts and has been collecting the required information from lease contracts for adoption. The adoption of this ASU will result in a material increase to lease-related assets and liabilities on the Company's Consolidated Balance Sheets. The Company is currently assessing the impact that this standard will have on its accounting policies, processes, system requirements, internal controls, and disclosures. The Company does not anticipate that the adoption of this ASU will have a significant effect on the Company’s Consolidated Statements of Operations or Cash Flows.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326), which modifies disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. This ASU is effective for annual periods beginning after December 15, 2020, with early adoption permitted. The amendments of this ASU should be applied on a retrospective basis to all periods presented. The Company is currently evaluating the effects adoption of this guidance will have on the consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820), which modifies disclosure requirements on fair value measurements of ASC 820. This ASU is effective for all entities for fiscal years beginning after December 15, 2019, including interim periods therein. Early adoption is permitted including in any interim period for which financial statements have not yet been issued. Entities are permitted to early adopt the eliminated or modified disclosure requirements and delay the adoption new disclosure requirements until their effective date. The Company does not anticipate adoption of this ASU to be material to its consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The ASU is effective for fiscal years ending after December 15, 2019 with early adoption permitted. The Company is currently evaluating the effects adoption of this guidance will have on the consolidated financial statements.

Recently Adopted Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (ASC Topic 606). The objective of ASU No. 2014-09 is to outline a new, single comprehensive model to use in accounting for revenue arising from contracts with customers. The new revenue recognition model provides a five-step analysis for determining when and how revenue is recognized, depicting the transfer of promised goods or services to customers in an amount that reflects the consideration expected to be received in exchange for those goods or services. The Company adopted the requirements of ASC Topic 606 and all related requirements using the modified retrospective method in the first quarter of fiscal 2019. Upon completing our assessment of ASC Topic 606, we concluded that no adjustments were required to the opening balance of retained earnings at the date of adoption and the comparative information has not been restated. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements. Disclosures required by ASC Topic 606 are presented within Note 4, Revenue Recognition.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10). This new standard enhances the reporting model for financial instruments regarding certain aspects of recognition, measurement, presentation, and disclosure. This ASU is to be applied using a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The Company adopted this ASU in the first quarter of fiscal 2019. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new guidance is intended to eliminate diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance requires application using a retrospective transition method. The Company adopted this ASU in the first quarter of fiscal 2019. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment. The standard simplifies how an entity tests goodwill by eliminating Step 2 of the goodwill impairment test. The amended standard also modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. The new guidance is effective for the Company beginning in fiscal 2020. The Company adopted this ASU in fiscal 2019. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805), to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The provisions of this ASU provide a more robust framework to use in determining when a set of assets and activities is a business by clarifying the requirements related to inputs, processes, and outputs. The Company adopted this ASU in the first quarter of fiscal 2019. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements.

In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. The amended standard specifies the modification accounting applicable to any entity which changes the terms or conditions of a stock-based payment award. The Company adopted this ASU in the first quarter of fiscal 2019. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements.

Revenue Recognition (Notes)

12 Months Ended

Aug. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The singular performance obligation of our customer contracts is determined by each individual purchase order and the products ordered, with revenue being recognized at a point-in-time when the obligation under the terms of the agreement is satisfied and product control is transferred to the customer. Specifically, control transfers to our customers when the product is delivered to or picked up by our customers based on applicable shipping terms. The performance obligations of our customer contracts are generally satisfied within 30 days.

Revenue is measured as the amount of consideration we expect to receive in exchange for fulfilled product orders, including estimates of variable consideration. The most common forms of variable consideration include trade programs, consumer incentives, coupon redemptions, allowances for unsaleable products, and any additional amounts where a distinct good or service cannot be identified or the value cannot be reasonably estimated. Estimates of variable consideration are made using various information including historical data on performance of similar trade promotional activities, market data from IRI, and the Company’s best estimate of current activity. We review these estimates regularly and make revisions as necessary. Revisions can include changes for consideration paid to customers that lack sufficient evidence to support a distinct good or service assertion, or for which a reasonably estimable fair value cannot be determined, primarily related to our assessments of cooperative advertising programs. Uncertainties related to the estimate of variable consideration are resolved in a short time frame and do not require any additional constraint on variable consideration. Adjustments to variable consideration are recognized in the period the adjustments are identified and have historically been insignificant. Revenue is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities.

We provide standard assurance type warranties that our products will comply with all agreed-upon specifications. No services beyond an assurance type warranty are provided to our customers. While customers generally have a right to return defective or non-conforming products, past experience has demonstrated that product returns have been immaterial. Customer remedies for defective or non-conforming products may include a refund or exchange. As a result, the right of return is estimated and recorded as a reduction in revenue, at the time of sale.

Our customer contracts identify product quantity, price and payment terms. Payment terms are granted consistent with industry standards. Although some payment terms may be more extended, the majority of our payment terms are less than 60 days. The Company does not have any payment terms that extend beyond one year. As a result, we do not adjust our revenue for the effects of a significant financing component. Amounts billed and due from our customers are classified as Accounts receivable, net on the Consolidated Balance Sheets.

The Company utilizes third-party contract manufacturers for the manufacture of our products. We have evaluated whether the Company is the principal or agent in these relationships. We have determined that the Company is the principal in all cases, as it maintains the responsibility for fulfillment, risk of loss and establishes the price.

We recognize a minor amount of royalty income for the license of Atkins’ frozen meals. Royalty income represents less than 1% of the Company’s net sales. Royalty revenue is recognized over time as sales of licensed products occur.

The Company has elected the following practical expedients in accordance with ASC Topic 606:


•	Shipping and handling costs—We have elected to account for shipping and handling costs incurred to deliver products to customers as fulfillment activities, rather than a promised service. As such, fulfillment costs are included in Cost of goods sold in our Consolidated Statements of Operations and Comprehensive Income (Loss).


•	Costs of obtaining a contract—We have elected to expense costs of obtaining a contract because the amortization period would be less than one year.

Revenue from transactions with external customers for each of Atkins’ products would be impracticable to disclose and management does not view its business by product line. For revenue disaggregated by geographic area see Note 16, Segment and Customer Information.

Property and Equipment, Net

12 Months Ended

Aug. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment, net, as presented with the Consolidated Balance Sheets, are summarized as follows:



	August 31, 2019			August 25, 2018
(In thousands)	(Successor)			(Successor)
Furniture and fixtures	$	715		$	638
Computer equipment and software	956			305
Machinery and equipment	385			233
Website development costs	2,237			1,746
Leasehold improvements	361			337
Construction in progress	139			507
Property and equipment, gross	4,793			3,766
Less: accumulated depreciation	(2,337		)	(1,201		)
Property and equipment, net	$	2,456		$	2,565

Total depreciation expense was $1.1 million for the fifty-two week period ended August 31, 2019, $1.2 million for the fifty-two week period ended August 25, 2018, $0.1 million for the successor period from July 7, 2017 through August 26, 2017, and $1.0 million for the predecessor period from August 28, 2016 through July 6, 2017. General and administrative includes a $0.1 million loss on disposal of property and equipment in the fifty-two week period ended August 25, 2018.

Goodwill and Intangibles

12 Months Ended

Aug. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

The following table presents the changes in Goodwill:



(In thousands)	Total
Balance as of August 26, 2017	$	465,030
Goodwill working capital adjustment	1,757
Measurement period adjustment of the Business Combination	4,640
Balance as of August 25, 2018	$	471,427

There were no changes in the Company's goodwill in the fifty-three week period ended August 31, 2019. There were no impairment charges related to goodwill in the period ended August 31, 2019 or since the inception of the Company.

Intangible assets, net in our consolidated balance sheets consist of the following:



		August 31, 2019
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		8,382		50,618
Proprietary recipes and formulas	7 years	7,000		2,131		4,869
Licensing agreements	14 years	22,000		3,348		18,652
		$	320,000	$	13,861	$	306,139



		August 25, 2018
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		4,448		54,552
Proprietary recipes and formulas	7 years	7,000		1,131		5,869
Licensing agreements	14 years	22,000		1,778		20,222
		$	320,000	$	7,357	$	312,643

Intangible assets, net changed due to amortization expense. Amortization expense related to intangible assets was $6.5 million for the fifty-three week period ended August 31, 2019, $6.5 million for the fifty-two week period ended August 25, 2018, $0.9 million for the successor period from July 7, 2017 through August 26, 2017, and $8.5 million for the predecessor period from August 28, 2016 through July 6, 2017.

Estimated future amortization for each of the next five fiscal years and thereafter is as follows:



(In thousands)
2020	$	6,505
2021	6,505
2022	6,505
2023	6,505
2024	6,505
Thereafter	41,614
Total	$	74,139

Accrued Expenses and Other Current Liabilities

12 Months Ended

Aug. 31, 2019

Other Liabilities Disclosure [Abstract]

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities were comprised of the following:



	August 31, 2019		August 25, 2018
(In thousands)	(Successor)		(Successor)
Professional fees	$	8,903	$	1,473
Accrued advertising allowances and claims	2,095		1,525
Accrued bonus	10,908		6,726
Freight accrual	1,791		1,318
Payroll-related accruals	841		1,004
Commissions	932		977
Income taxes payable	382		386
VAT payable	1,787		1,481
Other	2,294		985
Accrued expenses and other current liabilities	$	29,933	$	15,875

Long-Term Debt and Line of Credit

12 Months Ended

Aug. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt and Line of Credit

On July 7, 2017, the Company entered into a credit agreement with Barclays Bank PLC and other parties. The credit agreement provides for a term facility of $200.0 million (“Term Facility”) with a seven year maturity and a revolving credit facility of up to $75.0 million (the “Revolving Credit Facility”) with a five year maturity, under the first lien senior secured loan facilities (the “First Lien”). Substantially concurrent with the consummation of the Business Combination, the full $200.0 million of the First Lien term loan (the “Term Loan”) was drawn. No amounts were drawn on the Revolving Credit Facility. The interest rate per annum is based on either (i) a base rate equaling the higher of (a) the “prime rate”, (b) the federal funds effective rate plus 0.50% and (c) the Euro-currency rate applicable for an interest period of one month plus 1.00% plus (x) 3.00% margin for Term Loan or (y) 2.00% margin for Revolving Credit Facility, or (ii) London Interbank Offered Rate (“LIBOR”) adjusted for statutory reserve requirements, plus (x) 4.00% margin for the Term Loan subject to a floor of 1.00% or (y) 3.00% margin for the Revolving Credit Facility. As security for the payment or performance of its debt, the Company has pledged certain equity interests in its subsidiaries.

On March 16, 2018 (the “Amendment Date”), the Company entered into an amendment (the “Repricing Amendment”) to the First Lien. As a result of the Repricing Amendment, the interest rate on the Term Loan was reduced and, as of the Amendment Date, such loans bear interest at a rate equal to, at the Company's option, either LIBOR plus an applicable margin of 3.50% or a base rate plus an applicable margin of 2.50%. The Repricing Amendment did not change the interest rate on the Revolving Credit Facility. The Revolving Credit Facility will continue to bear interest based upon the Company's consolidated First Lien net leverage ratio as of the last financial statements delivered to the administrative agent. No additional debt was incurred, or any proceeds received, by the Company in connection with the Repricing Amendment. The incremental fees paid to the administrative agent are reflected as additional debt discount and are amortized over the terms of the long-term financing agreements using the effective-interest method.

The credit facilities governing our debt contain certain financial and other covenants that limit our ability to, among other things, incur and/or undertake asset sales and other dispositions, liens, indebtedness, certain acquisitions and investments, consolidations, mergers, reorganizations and other fundamental changes, payment of dividends and other distributions to equity and warrant holders, and prepayments of material subordinated debt, in each case, subject to customary exceptions materially consistent with credit facilities of such type and size. The Revolving Credit Facility has a maximum total net leverage ratio equal to or less than 6.25:1.00 (with a reduction to 6.00:1.00 on the third anniversary of the closing date of the credit facilities) contingent on credit extensions in excess of 30% of the total amount of commitments available under the Revolving Credit Facility. Any failure to comply with the restrictions of the credit facilities may result in an event of default. The Company was in compliance with all financial covenants as of August 31, 2019 and August 25, 2018, respectively.

At August 31, 2019 and August 25, 2018, there were no amounts drawn against the Revolving Credit Facility. Long-term debt consists of the following:



	August 31, 2019		August 25, 2018
(In thousands)	(Successor)		(Successor)
Term Loan	$	196,500	$	198,500
Less: Deferred financing fees	5,565		6,917
Total debt	190,935		191,583
Less: Current maturities, net of deferred financing fees of $1.3 million at August 31, 2019 and $1.4 million at August 25, 2018, respectively	676		648
Long-term debt, net of deferred financing fees	$	190,259	$	190,935

Aggregate principal maturities of debt are as follows:



(In thousands)
Fiscal year ending:
2020	$	2,000
2021	2,000
2022	2,000
2023	2,000
2024	188,500
Thereafter	—
Total debt	$	196,500

The Company utilizes market approaches to estimate the fair value of certain outstanding borrowings by discounting anticipated future cash flows derived from the contractual terms of the obligations and observable market interest and foreign exchange rates. The Company carries debt at historical cost and discloses fair value. As of August 31, 2019 and August 25, 2018, the book value of the Company’s debt approximated fair value. All term debt is valued based on observable inputs and classified as Level 2 in the fair value hierarchy.

Fair Value of Financial Instruments

12 Months Ended

Aug. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measurements, a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is as follows:

Level 1 – Valuations based on quoted prices for identical assets and liabilities in active markets.

Level 2 – Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3 – Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

The Company paid in full the Income Tax Receivable Agreement (the “TRA”) during the successor fifty-three week period ended August 31, 2019. As a result, the Company did not have any liabilities measured at fair value as of August 31, 2019.

The Company's liabilities measured at fair value as of August 25, 2018 are summarized as follows:



Successor	Level 1		Level 2		Level 3		Total
Liabilities
TRA liability	$	—	$	—	$	27,468	$	27,468

A loss of $0.5 million was charged to the Loss (gain) in fair value change of contingent consideration - TRA liability for the successor fifty-three week period ended August 31, 2019. For the successor fifty-two week period ended August 25, 2018, a benefit of $2.8 million was recognized in Loss (gain) in fair value change of contingent consideration - TRA liability. The gain is primarily due to the change in the federal tax rates.

The settlement of the TRA liability during the fifty-three week period ended August 31, 2019 resulted in a gain of $1.5 million recognized in Gain on settlement of TRA liability. The settlement of the TRA liability is discussed in Note 10, Income Taxes.

For the predecessor entity, Changes in warrant liabilities included other income of $0.7 million for the predecessor period from August 28, 2016 through July 6, 2017. The Company settled warrant liabilities of $15.0 million upon the Business Combination.

The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximated fair value as of August 31, 2019 and August 25, 2018 due to the relatively short maturity of these instruments.

The predecessor entity historically carried warrant liabilities on the balance sheet at fair value. These warrant liabilities were settled with the change of control. The successor entity assumed the equity warrants of Conyers Park. The fair value of the warrants were calculated by estimating future cash payments to be made to the former owner, in part based on the probability-weighted present value of various payout scenarios. Key fair value inputs included the discount rate, expected future cash flows under various payout scenarios and a probability analysis of the payout scenarios. The methodology for measuring fair value is sensitive to the volatility of key inputs mentioned above. For additional information, see Note 12, Stockholders' Equity.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes

12 Months Ended

Aug. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

The sources of income (loss) before income taxes are as follows:



	53-Weeks Ended		52-Weeks Ended		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)		(Successor)		(Successor)		(Predecessor)
Domestic	$	64,244	$	49,748	$	78	$	(690	)
Foreign	42		3,343		662		2,775
Total	$	64,286	$	53,091	$	740	$	2,085

Income tax (benefit) expense was comprised of the following:



	53-Weeks Ended			52-Weeks Ended			From July 7, 2017 through August 26, 2017			From August 28, 2016 through July 6, 2017
	August 31, 2019			August 25, 2018			From July 7, 2017 through August 26, 2017			From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)			(Successor)			(Successor)			(Predecessor)
Current:
Federal	$	2,784		$	2,584		$	414		$	7,340
State and local	2,684			159			11			415
Foreign	374			1,001			247			695
Total current expense	5,842			3,744			672			8,450

Deferred:
Federal	9,976			(21,223		)	(379		)	(4,172		)
State and local	1,086			(26		)	(3		)	259
Foreign	(154		)	141			—			33
Total deferred income tax (benefit) expense	10,908			(21,108		)	(382		)	(3,880		)
Total tax (benefit) expense	$	16,750		$	(17,364	)	$	290		$	4,570

A reconciliation of the federal statutory income tax rate to the effective income tax rate is as follows:



	53-Weeks Ended		52-Weeks Ended		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)		(Successor)		(Successor)		(Predecessor)
Statutory income tax expense:	21.0	%	25.5	%	34.0	%	34.0	%
State income tax expense, net of federal	3.9		3.1		1.7		21.0
Valuation allowance	(0.6	)	0.6		5.2		(0.9	)
Taxes on foreign income above (below) the U.S. tax	0.2		0.4		(3.3	)	(7.5	)
Warrant liabilities	—		—		—		(11.8	)
Tax Cuts and Jobs Act	—		(58.4	)	—		—
Change in tax rate	1.5		(4.0	)	—		(4.2	)
Non-deductible transaction costs	—		—		—		182.7
TRA contingent consideration	(0.4	)	(1.5	)	—		—
Other permanent items	0.5		1.6		1.6		6.0
Income tax (benefit) expense	26.1	%	(32.7	)%	39.2	%	219.3	%

The comparability of our operating results of fiscal 2019 compared to the corresponding prior years was effected by the U.S. Tax Cuts and Jobs Act of 2017 (the “Tax Act”), which was enacted on December 22, 2017. The Tax Act introduced significant changes to U.S. income tax law including reducing the U.S. federal statutory tax rate from 35% to 21% and imposing new taxes on certain foreign-sourced earnings and certain intercompany payments. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, we made reasonable estimates of the effects and recorded provisional amounts in our financial statements as of fiscal 2018 in accordance with SEC Staff Accounting Bulletin No. 118 (“SAB 118”). During the period ended February 23, 2019, we completed our accounting for the Tax Act with no material adjustment to our provisional estimates recorded.

For the Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Act, the Company completed its assessment during the second quarter of 2019 and, effective August 26, 2018, elected an accounting policy to record GILTI as period costs if and when incurred. Additionally, the Company concluded that it is has not met the threshold requirements of the base erosion and anti-abuse tax. Although the measurement period has closed, further technical guidance related to the Tax Act, including final regulations on a broad range of topics, is expected to be issued. In accordance with Accounting Standards Codification (ASC) 740, the Company will recognize any effects of the guidance in the period that such guidance is issued.

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities at August 31, 2019 and August 25, 2018 were as follows:



	August 31, 2019			August 25, 2018
(In thousands)	(Successor)			(Successor)
Deferred tax assets
Accounts receivable allowances	$	2,601		$	1,885
Inventories writedowns	67			107
Accrued expenses	3,680			1,961
Net operating loss carryforwards	4,179			10,150
Share based compensation	1,755			975
Tax credits	351			10,066
Other	2,247			1,051
Deferred tax assets	14,880			26,195
Valuation allowance	(3,786		)	(4,195		)

Deferred tax asset, net of valuation allowance	11,094			22,000

Deferred tax liabilities:
Prepaid expense	(474		)	(419		)
Excess tax over book depreciation	(169		)	(77		)
Website development costs	(226		)	(238		)
Intangible assets	(74,431		)	(74,342		)
Other	(1,177		)	(1,399		)
Deferred tax liabilities	(76,477		)	(76,475		)
Net deferred tax liabilities	$	(65,383	)	$	(54,475	)

The Company had available U.S. federal net operating loss carryforwards of $0.0 million and $22.2 million at August 31, 2019 and August 25, 2018, respectively. The Company also had state net operating loss carryforwards of $12.2 million and $33.6 million and foreign net operating losses of $14.2 million and $14.7 million at August 31, 2019 and August 25, 2018, respectively. The federal net operating loss carryforwards will begin to expire in 2034, while state net operating loss carryforwards will begin to expire in 2021.

During the fifty-three week period ended August 31, 2019, there was a $0.5 million decrease to the tax loss carryforwards in foreign jurisdictions. As the carryforwards were generated in jurisdictions where the Company has historically recognized book losses or does not have strong future earnings projections, the Company concluded it is more likely than not that the operating losses would not be realized, and thus maintained a full valuation allowance against the associated deferred tax assets. As of August 31, 2019, the Company has recorded total valuation allowances of $3.8 million.

As of August 31, 2019, the Company has recorded valuation allowances of $3.4 million on deferred tax assets related to foreign net operating loss carryforwards. The majority of this amount represents a full valuation allowance on the deferred tax assets of foreign entities within the United Kingdom, Netherlands, and Spain. Of the valuation allowance on deferred tax assets, $0.4 million relates to state net operating losses.

It is the Company’s intention to reinvest the earnings of non-U.S. subsidiaries in those operations. As of August 31, 2019, the Company has not made a provision for U.S. or additional foreign withholding taxes for any outside basis differences inherent in its investments in foreign subsidiaries that are indefinitely reinvested. It is not practicable to estimate the amount of deferred tax liability related to investments in these foreign subsidiaries.

As of August 31, 2019 and August 25, 2018, the Company has no unrecognized tax benefits.

The Company records interest and penalties associated with unrecognized tax benefits as a component of tax expense. As of August 31, 2019 and August 25, 2018, the Company has not accrued interest or penalties on unrecognized tax benefits, as there is no position recorded as of the fiscal years. No changes to the uncertain tax position balance are anticipated within the next 12 months, and are not expected to materially affect the financial statements.

As of August 31, 2019, tax years 2013 to 2018 remain subject to examination in the United States and the tax years 2013 to 2018 remain subject to examination in other major foreign jurisdictions where Atkins conducts business. State income tax returns are generally subject to examination for a period of three to five years after the filing of the respective return.

Tax Receivable Agreement

Concurrent with the Business Combination, the Company entered into the TRA with the historical stockholders of Atkins. The TRA was valued based on the future expected payments under the terms of the agreement. As more fully described in the TRA, the TRA provides for the payment by Simply Good Foods to the Atkins’ selling equity holders for certain federal, state, local and non-U.S. tax benefits deemed realized in post-closing taxable periods by Simply Good Foods, Conyers Park, Atkins and Atkins’ eligible subsidiaries from the use of up to $100 million of the following tax attributes: (i) net operating losses available to be carried forward as of the closing of the Business Combination, (ii) certain deductions generated by the consummation of the business transaction and (iii) remaining depreciable tax basis from the 2003 acquisition of Atkins Nutritionals, Inc.

The Company re-measured the TRA in the second quarter of 2018 due to the Tax Act. The second quarter assessment of these changes resulted in a provisional one-time gain of $4.7 million, recognized in Loss (gain) in fair value change of contingent consideration - TRA liability.

During the first quarter of 2019, the Company entered into a termination agreement (the “Termination Agreement”) with Atkins Holdings, LLC and Roark Capital Acquisition, LLC. Pursuant to the Termination Agreement, the Company paid $26.5 million to settle the TRA in full. Under the Termination Agreement, each of the parties thereto agreed to terminate the TRA and to release any and all obligations and liabilities of the other parties thereunder effective as of the receipt of the termination payment. The Company recorded a $0.5 million loss on the fair value change in the TRA liability through the settlement on November 14, 2018 and recognized a gain of $1.5 million in connection with the execution of the Termination Agreement and final cash payment.

Commitments and Contingencies

12 Months Ended

Aug. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Leases

The Company has non-cancellable operating leases for six buildings. Rent expenses were $2.2 million for the fifty-three week period ended August 31, 2019, $2.4 million for the fifty-two week period ended August 25, 2018, $0.3 million for the successor period from July 7, 2017 through August 26, 2017, and $1.7 million for the predecessor period from August 28, 2016 through July 6, 2017.

Future minimum payments under lease arrangements with a remaining term in excess of one year were as follows as of August 31, 2019:



(In thousands)	Future Payments
2020	$	2,546
2021	1,947
2022	1,677
2023	1,093
2024	87
Thereafter	56
Total	$	7,406

Litigation

The Company is a party to certain litigation and claims that are considered normal to the operations of the business. From time to time, we have been and may again become involved in legal proceedings arising in the ordinary course of our business. We are not presently a party to any litigation that we believe to be material and we are not aware of any pending or threatened litigation against us that we believe could have a material adverse affect of our business, operating result, financial condition or cash flows.

During the fifty-three week period ended August 31, 2019, the Company reserved $3.5 million for the potential settlement of class action litigation concerning certain product label claims. The reserve is included within General and administrative in the Consolidated Statements of Comprehensive Income (Loss) and Accrued expenses and other current liabilities in the Consolidated Balance Sheets.

Other

The Company has entered into endorsement contracts with certain celebrity figures to promote and endorse the Atkins brand and line of products. These contracts contain endorsement fees, which are expensed ratably over the life of the contract, and performance fees, that are recognized at the time of achievement. Based on the terms of the contracts in place and achievement of performance conditions as of August 31, 2019 the Company will be required to make payments of $0.3 million over the next year.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Aug. 31, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Successor Equity Warrants Prior to the Business Combination, Conyers Park issued 13,416,667 public warrants and 6,700,000 private placement warrants. Simply Good Foods assumed the Conyers Park equity warrants upon the change of control event. As a result of the Business Combination, the warrants issued by Conyers Park are no longer exercisable for shares of Conyers Park common stock, but instead are exercisable for common stock of Simply Good Foods. All other features of the warrants remain unchanged. From August 26, 2018 through October 5, 2018, public warrants to purchase an aggregate of 9,866,451 shares of the Company’s common stock were exercised for cash at an exercise price of $11.50 per share, resulting in aggregate gross proceeds to the Company of $113.5 million. On October 4, 2018, the Company delivered a notice for the redemption (the “Redemption Notice”) of all of its public warrants that remained unexercised immediately after November 5, 2018. Holders who exercised public warrants following the Redemption Notice were required to do so on a cashless basis. Accordingly, holders were no longer permitted to exercise public warrants in exchange for payment in cash of $11.50 per share. Instead, a holder exercising a public warrant was deemed to have paid the $11.50 per share exercise price by the surrender of 0.61885 of a share of common stock that the holder would have been entitled to receive upon a cash exercise of each public warrant. Exercising holders received 0.38115 of a share of the Company’s common stock for each public warrant surrendered for exercise. Following the Redemption Notice, 3,499,639 public warrants were exercised on a cashless basis. An aggregate of 1,333,848 shares of the Company’s common stock were issued in connection with these exercises of the public warrants. All remaining public warrants were redeemed as of November 5, 2018 for an immaterial amount. The Company’s private warrants to purchase 6,700,000 shares of the Company’s common stock remain outstanding. The private warrants are owned by Conyers Park, a related party of the Company. Predecessor Warrant Liabilities of Atkins Atkins, the predecessor company, had outstanding warrants prior to the Business Combination. These warrants were settled as a part of the Business Combination. Historically, the value of the predecessor warrants were reflected as a liability and adjusted to fair value each reporting period through Change in warrant liabilities. The Company recorded a benefit of $0.7 million in the predecessor period from August 28, 2016 through July 6, 2017 in changes in warrant liabilities. The Company settled $15.0 million of warrant liabilities as part of the Business Combination. Stock Repurchase Program On November 13, 2018, the Company announced that its Board of Directors had adopted a $50.0 million stock repurchase program. Under the stock repurchase program, the Company may repurchase shares from time to time in the open market or in privately negotiated transactions. The stock repurchase program does not obligate the Company to acquire any specific number of shares or acquire shares over any specific period of time. The stock repurchase program may be suspended or discontinued at any time by the Company, and does not have an expiration date. During the fifty-three week period ended August 31, 2019, the Company repurchased 98,234 shares of common stock at an average share price of $21.83 per share.

Earnings Per Share

12 Months Ended

Aug. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share is based on the weighted average number of common shares issued and outstanding for the Successor period. Diluted earnings per share is based on the weighted average number of common shares issued and outstanding and the effect of all dilutive common stock equivalents outstanding during each of the successor periods.

The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share:



	53-Weeks Ended		52-Weeks Ended		From July 7, 2017 through August 26, 2017
(In thousands, except share data)	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017
Basic earnings per share computation:
Numerator:
Net income available to common stock stockholders	$	47,536	$	70,455	$	450
Denominator:
Weighted average common shares - basic	80,734,091		70,582,149		70,562,477

Basic earnings per share from net income	$	0.59	$	1.00	$	0.01

Diluted earnings per share computation:
Numerator:
Net income available to common stock stockholders	$	47,536	$	70,455	$	450
Denominator:
Weighted average common shares outstanding - basic	80,734,091		70,582,149		70,562,477
Public and private warrants	3,615,198		3,006,073		690,248
Employee stock options	801,700		43,779		—
Non-vested shares	92,920		49,354		2,045
Weighted average common shares - diluted	85,243,909		73,681,355		71,254,770

Diluted earnings per share from net income	$	0.56	$	0.96	$	0.01

Earnings per share calculations for the fifty-three week period ended August 31, 2019, fifty-two week period ended August 25, 2018 and the successor period from July 7, 2017 through August 26, 2017 excluded 0.2 million, 0.2 million and 2.6 million shares of stock options, respectively, that would have been anti-dilutive.

Stock Option Plan

12 Months Ended

Aug. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Option Plan

Share-based compensation is recognized on a straight-line basis over the requisite service period of the award based on their grant-date fair value. The Company recorded stock-based compensation expense of $5.5 million in the fifty-three week successor period ended August 31, 2019, $4.0 million in the fifty-two week successor period ended August 25, 2018 and $0.4 million in the successor period from July 7, 2017 through August 26, 2017.

In July 2017, the Company's stockholders approved the 2017 Omnibus Incentive Plan (the “Incentive Plan”). The Incentive Plan provides for the issuance of a maximum of 9,067,917 shares of stock-denominated awards to directors, employees, officers and agents of the Company. As of August 31, 2019, there were 5.8 million shares available for grant under the Incentive Plan.

Stock Options

Stock options granted under the Incentive Plan are granted at a price equal to or more than the fair value of common stock on the date the option is granted. Stock options under the Incentive Plan generally become exercisable ratably over three years from the date of grant and must be exercised within ten years from the date of grant.

The following table summarizes stock option activity for the fifty-three week period ended August 31, 2019:



	Shares		Weighted average exercise price		Weighted average remaining contractual life (in years)	Aggregate intrinsic value
Outstanding as of August 25, 2018	2,506,083		$	12.28	8.84	$	14,293,484

Granted	362,565		20.34
Exercised	(119,913	)	12.00
Forfeited	—		—
Outstanding as of August 31, 2019	2,748,735		$	13.35	8.13

Vested and expected to vest as of August 31, 2019	2,748,735		$	13.35	8.13	$	44,743,427

Exercisable as of August 31, 2019	1,478,216		$	12.16	7.91	$	25,829,992

The following table summarized information about stock options outstanding at August 31, 2019:



Range of Exercise Prices				Number Outstanding	Weighted-Average Exercise Price		Weighted-Average Remaining Life (Years)	Number Exercisable	Weighted-Average Exercise Price
$	12.00	-	14.99	2,268,617	$	12.05	7.90	1,439,033	$	12.05
$	15.00	-	17.99	117,553	16.88		8.88	39,183	16.88
$	18.00	-	20.99	315,331	19.89		9.19	—	—
$	21.00	-	23.99	13,386	21.49		9.75	—	—
$	24.00	-	26.99	33,848	24.08		9.86	—	—
				2,748,735	$	13.35	8.13	1,478,216	$	12.16

The weighted average fair value of options granted during the fifty-three week period ended August 31, 2019, fifty-two week period ended August 25, 2018 and for the successor period from July 7, 2017 through August 26, 2017 were $7.10, $4.60 and $3.71, respectively. No stock options were granted prior to the Business Combination. As such, there were not any shares vested or exercisable for the successor period from July 7, 2017 through August 26, 2017.

The fair value of each option grant is estimated on the date of grant using the Black-Scholes Option Pricing Model based on the following assumptions:



	August 31, 2019				August 25, 2018				From July 7, 2017 through August 26, 2017
Expected volatility	29.3%	-	32.09	%	26.72%	-	27.5	%	27.5%
Expected dividend yield	—%				—%				—%
Expected option term	6				6				6
Risk-free rate of return	1.82%	-	3.13	%	1.98%	-	2.79	%	1.98%

Expected term is estimated using the simplified method, which takes into account vesting and contractual term. The simplified method is being used to calculate expected term instead of historical experience due to a lack of relevant historical data resulting from changes in option vesting schedules and changes in the pool of employees receiving option grants. Due to a lack of sufficient trading history for our common stock, expected stock price volatility is based on a sampling of comparable publicly traded companies. The Company believes a sample of comparable publicly traded companies most closely models the nature of the business and stock price volatility. The risk-free rates are based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent remaining term. Future annual dividends over the expected term are estimated to be nil.

As of August 31, 2019, $5.0 million of total unrecognized compensation cost related to stock option plans that will be recognized over a weighted average period of 1.4 years. During the fifty-three week period ended August 31, 2019 and the fifty-two week period ended August 25, 2018, the Company received $0.7 million and $0.1 million in cash from stock option exercises, respectively.

Restricted Stock Units

Restricted stock units granted under the Incentive Plan are granted at a price equal to closing market price of our common stock on the date of grant. Restricted stock units under the Incentive Plan generally vest over three years.

The following table summarized Restricted Stock Unit activity for the fifty-three week period ended August 31, 2019:



	Units		Weighted average grant-date fair value
Outstanding as of August 25, 2018	111,085		$	12.06

Granted	78,180		18.84
Vested	(87,158	)	11.98
Forfeited	(9,707	)	15.61
Outstanding as of August 31, 2019	92,400		$	17.50

As of August 31, 2019, the Company had $0.7 million of total unrecognized compensation cost related to restricted stock unit awards that will be recognized over a weighted average period of 1.0 years.

Performance Stock Units

During the fifty-three weeks ended August 31, 2019, the Board of Directors granted performance stock units under the Incentive Plan. Performance stock units vest in a range between 0% and 100% based upon the price of the Company’s common stock at the end of a three-year period. Performance stock units were valued using a Monte-Carlo simulation.

The following table summarized Performance Stock Unit activity for the fifty-three week period ended August 31, 2019:



	Units		Weighted average grant-date fair value
Outstanding as of August 25, 2018	—		$	—

Granted	193,512		11.93
Vested	—		—
Forfeited	(1,123	)	11.93
Outstanding as of August 31, 2019	192,389		$	11.93

As of August 31, 2019, the Company had $1.7 million of total unrecognized compensation cost related to performance stock unit awards that will be recognized over a weighted average period of 2.2 years.

Predecessor

In January 2011, the predecessor's Board of Directors adopted the NCP-ATK Holdings, Inc. 2010 Stock Option Plan (the “Option Plan”). Under the terms of the Option Plan, nonqualified stock options were granted to employees, directors and consultants of the predecessor Company. An option certificate for each grant set forth the exercise price, vesting period, performance thresholds if applicable and other terms. Options with service conditions generally vested over a period of five years, and the Company recognized share-based compensation expense ratably over the vesting period. Options with performance conditions generally vested over five successive years, based on the achievement of certain annual financial targets. Options typically expired after ten years.

The unvested portion of the stock options forfeited as of the Business Combination effective date and the vested portion of the stock options were required to be exercised within five calendar days following receipt by the option holder of written notice of the change in control. If not exercised, these vested stock options were canceled.

The weighted average fair value of options granted during the predecessor period from August 28, 2016 through July 6, 2017 were $261.80. The fair value of each option grant is estimated on the date of grant using the Black-Scholes Option Pricing Model based on the following assumptions:



	From August 28, 2016 through July 6, 2017
Expected volatility	55%
Expected dividend yield	—%
Expected option term	5.1		-	6.5 years
Risk-free rate of return	1.62	%	-	1.74%

The expected term of the options represented the estimated period of time until exercise and considered vesting schedules and expectations of future employee and director behavior. Expected stock price volatility was based on a sampling of comparable publicly traded companies that the Company believed most closely modeled the nature of its own business. The risk-free rates were based on the implied yield available on U.S. Treasury zero-coupon issued with an equivalent term.

A summary of the option activity under the plans for the predecessor company is as follows:



	From August 28, 2016 through July 6, 2017
Intrinsic value of options exercised	$	11,106
Fair value of shares vested	$	—
Tax benefit related to stock option expense	$	910

Related Party Transactions	12 Months Ended
Related Party Transactions	Aug. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Successor Tax Receivable Agreement During the fifty-three week period ended August 31, 2019, the Company entered into the Termination Agreement, pursuant to which, the Company paid $26.5 million to settle the TRA (the “Termination Payment”), which provided former stockholders of Atkins with payments for federal, state, local and non-U.S. tax benefits deemed realized by the Company. Under the Termination Agreement, each of the parties thereto agreed to terminate the TRA and to release and discharge any and all obligations and liabilities of the other parties thereunder effective as of the exchange agent’s receipt of the Termination Payment. Richard Laube, a former director of the Company, Joseph Scalzo, our President and Chief Executive Officer and a director of the Company, and Scott Parker, our Chief Marketing Officer, were each former stockholders of Atkins and received their respective pro rata share of the Termination Payment as additional consideration for their former stock ownership in accordance with the terms of the Merger Agreement. The TRA liability and subsequent settlement are discussed in Note 10, Income Taxes. Merger Agreement Working Capital Adjustment In the first quarter of fiscal 2018, pursuant to the terms of the Merger Agreement, Simply Good Foods paid a working capital adjustment of $1.8 million to the former owners of Atkins, which resulted in an increase to the previously recognized goodwill. Predecessor Pursuant to an arrangement with the former majority stockholder of Atkins, the predecessor company was obligated to pay a management fee of the greater of $0.9 million or an amount equal to 2% of consolidated adjusted earnings before interest, tax, depreciation and amortization (EBITDA), as defined by the First Lien and Second Lien, which could have been prorated upon a fiscal year-end change. Annual reimbursements for out-of-pocket expenses were limited to $0.2 million. For the predecessor period from August 28, 2016 through July 6, 2017, the management fee expense was $1.2 million.

Segment and Customer Information

12 Months Ended

Aug. 31, 2019

Segment Reporting [Abstract]

Segment and Customer Information

The Company has organized its operations into one operating segment that sells its branded nutritional foods and snacking products designed around the nutrition principles of the Atkins eating approach. The results of the operating segment are reviewed by the Company’s chief operating decision maker to make decisions about resource expenditures and assessing financial performance. This operating segment is therefore the Company’s only reportable segment.

Reconciliations of the totals of reported segment revenue, profit or loss measurement, assets and other significant items reported by segment to the corresponding GAAP totals is not applicable to the Company as it only has one reportable segment. The following is a summary of revenue from external customers by geographical location:



	53-Weeks Ended		52-weeks ended		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)		(Successor)		(Successor)		(Predecessor)
Revenue from external customers
North America	$	498,196	$	405,055	$	52,373	$	316,776
International	25,187		26,374		3,961		23,061
Total	$	523,383	$	431,429	$	56,334	$	339,837

The following is a summary long lived assets by geographical location:



(In thousands)	August 31, 2019		August 25, 2018
Long lived assets
North America	$	2,437	$	2,547
International	19		18
Total	$	2,456	$	2,565

Revenue from transactions with external customers for each of the Company’s products would be impracticable to disclose. Management does not view its business by product line.

Significant Customers

Credit risk for the Company was concentrated in the following customer who comprised more than 10% of the Company’s total sales for fifty-three week period ended August 31, 2019, the successor period from July 7, 2017 through August 26, 2017 and the predecessor period from August 28, 2016 through July 6, 2017:

53-Weeks Ended

52-weeks ended

From July 7, 2017
through August 26, 2017

From August 28, 2016 through July 6, 2017

August 31, 2019

August 25, 2018

(Successor)

(Predecessor)

Customer 1

At August 31, 2019 and August 25, 2018, the Company had a single significant customer that accounted for the following amounts of the Company’s accounts receivable, net:



(In thousands)	August 31, 2019				August 25, 2018
Customer 1	$	17,386	39	%	$	14,519	34	%

No other customers of the Company accounted for more than 10% of sales during these periods. The Company generally does not require collateral from its customers and has not incurred any significant losses on uncollectible accounts receivable.

Unaudited Quarterly Financial Data

12 Months Ended

Aug. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Data

Summarized quarterly financial data:



	53-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended
(In thousands, except per share amounts)	August 31, 2019		August 31, 2019		May 25, 2019		February 23, 2019		November 24, 2018
Net sales	$	523,383	$	139,184	$	139,468	$	123,800	$	120,931
Gross profit ⁽¹⁾	$	217,405	$	59,173	$	56,657	$	49,655	$	51,920
Income from operations	$	72,809	$	12,115	$	20,510	$	19,002	$	21,182
Net income	$	47,536	$	6,091	$	13,466	$	12,722	$	15,257

Earnings per share from net income:
Basic	$	0.59	$	0.07	$	0.16	$	0.16	$	0.20
Diluted	$	0.56	$	0.07	$	0.16	$	0.15	$	0.18



	52-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended
(In thousands, except per share amounts)	August 25, 2018		August 25, 2018		May 26, 2018		February 24, 2018		November 25, 2017
Net sales	$	431,429	$	108,262	$	107,233	$	109,347	$	106,587
Gross profit ⁽¹⁾	$	180,366	$	46,275	$	44,797	$	42,937	$	46,357
Income from operations	$	64,730	$	14,859	$	13,802	$	16,783	$	19,286
Net income	$	70,455	$	11,706	$	7,137	$	41,394	$	10,218

Earnings per share from net income:
Basic	$	1.00	$	0.17	$	0.10	$	0.59	$	0.14
Diluted	$	0.96	$	0.15	$	0.10	$	0.56	$	0.14



(1)		During the fifty-three weeks ended August 31, 2019, certain reclassifications were made to previously reported amounts to conform to the current presentation. On the consolidated statement of operations, inbound freight previously included in Distribution, distribution center expenses previously included in General and administrative, and depreciation for equipment used in warehouse operations were reclassified to Cost of goods sold. Including these expenses in Cost of goods sold better align costs with the related revenue. As a result, the first three quarters of fiscal 2019 and all quarterly results of 2018 have been adjusted on a retrospective basis to reflect the reclassification. For additional information on the change in accounting principle, see Note 2.

Earnings per common share amounts are computed independently for each of the quarters presented. Therefore, the sum of the quarterly earnings per share amounts may not equal the quarterly earnings per share amounts or the annual earnings per share amounts due to rounding.

Subsequent Events	12 Months Ended
Subsequent Events	Aug. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Quest Acquisition and Related Financing On August 21, 2019, we entered into a stock purchase agreement (the “Purchase Agreement”) to acquire Quest Nutrition, LLC (“Quest”), a healthy lifestyle food company (the “Acquisition”), for approximately $1.0 billion. The Acquisition is expected to close by the end of the 2019 calendar year, subject to satisfaction of customary closing conditions. There is no financing condition for the Acquisition. On October 9, 2019, we completed an underwritten public offering of 13,379,205 shares of our common stock at a price per share of $26.16 (the “Offering”), resulting in net proceeds to us of approximately $350.0 million, after deducting underwriting discounts and commissions and our estimated fees and expenses for the Offering. We intend to use these net proceeds to pay a portion of the purchase price and related fees and expenses for the Acquisition, or for general corporate purposes if the acquisition is not consummated. We plan to fund the remainder of the Acquisition by using a significant portion of the approximately $265 million of cash on hand and committed financing pursuant to debt commitments from Barclays, Credit Suisse and Goldman Sachs.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Aug. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations and Principles of Consolidation

Basis of Presentation

The consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). The Company maintains its accounting records on a 52/53-week fiscal year, ending on the last Saturday in August.

The financial information presented within our consolidated financial statements has been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The accompanying financial statements include Consolidated Balance Sheets for the successor entity for the periods ended August 31, 2019 and August 25, 2018. The remaining financial statements include the successor fifty-three week period ended August 31, 2019, the successor fifty-two week period ended August 25, 2018, the successor period from July 7, 2017 through August 26, 2017, and the predecessor period from August 28, 2016 through July 6, 2017.

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context otherwise requires, “we,” “us,” “our” and the “Company” refer to Atkins and its subsidiaries for periods prior to the completion of the Business Combination, and Simply Good Foods and its subsidiaries for periods upon or after the completion of the Business Combination.

Reclassifications

Reclassification of Prior Year Amounts

Certain prior year amounts have been reclassified to conform to the current year presentation including Selling and Marketing expenses, which have been combined as Selling and marketing on the Consolidated Statements of Operations and Comprehensive Income (Loss) and other operating expense, which has been combined with General and administrative expense on the Consolidated Statements of Operations and Comprehensive Income (Loss).

Use of Estimates

Cash and Cash Equivalents

Accounts Receivable

Accounts Receivable, Net

Inventory

Inventories

Property and Equipment

Property and Equipment, Net



Furniture and fixtures	7 years
Computer equipment, software and website development costs	3	-	5 years
Machinery and equipment	7 years
Office equipment	3	-	5 years

Leasehold improvements are amortized over the shorter of the remaining term of the lease or the useful life of the improvement utilizing the straight-line method.

Goodwill and Intangible Assets

Deferred Financing Costs and Debt Discounts

Income Taxes

Foreign Currency Translations

Foreign Currency Translation

Advertising Cost

Advertising Costs

Research and Development Expense

Research and Development Activities

Share-based Compensation

Share-Based Compensation

Defined Contribution Plan

Cost of Goods Sold

Shipping and Handling Costs

Recently Issued and Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

Recently Adopted Accounting Pronouncements

Revenue Recognition (Policies)

12 Months Ended

Aug. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue Recognition

The Company has elected the following practical expedients in accordance with ASC Topic 606:


•	Shipping and handling costs—We have elected to account for shipping and handling costs incurred to deliver products to customers as fulfillment activities, rather than a promised service. As such, fulfillment costs are included in Cost of goods sold in our Consolidated Statements of Operations and Comprehensive Income (Loss).


•	Costs of obtaining a contract—We have elected to expense costs of obtaining a contract because the amortization period would be less than one year.

Change in Accounting Principle (Tables)

12 Months Ended

Aug. 31, 2019

Change in Accounting Principle [Abstract]

Change in Accounting Principle

The effect of the adjustment is as follows:



Fifty-Three Weeks Ended August 31, 2019	Under Previous Method	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Reported
Cost of goods sold	273,682	32,296		—	305,978
Distribution	23,387	(23,387	)	—	—
General and administrative	70,712	(8,761	)	21	61,972
Depreciation and amortization	7,644	(148	)	—	7,496

Fifty-Two Weeks Ended August 25, 2018	As Reported	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Adjusted
Cost of goods sold	223,873	27,190		—	251,063
Distribution	19,685	(19,685	)	—	—
General and administrative	56,333	(7,331	)	633	49,635
Depreciation and amortization	7,672	(174	)	—	7,498

From July 7, 2017 through August 26, 2017	As Reported	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Adjusted
Cost of goods sold	35,941	3,643		—	39,584
Distribution	2,784	(2,784	)	—	—
General and administrative	7,813	(844	)	—	6,969
Depreciation and amortization	1,000	(15	)	—	985

From August 28, 2016 through July 6, 2017	As Reported	Change in Accounting Principle and Presentation		Other Operating Expense⁽¹⁾	As Adjusted
Cost of goods sold	179,998	20,028		—	200,026
Distribution	14,970	(14,970	)	—	—
General and administrative	39,276	(4,850	)	141	34,567
Depreciation and amortization	8,617	(208	)	—	8,409

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property and equipment, useful lives

The general ranges of estimated useful lives are:



Furniture and fixtures	7 years
Computer equipment, software and website development costs	3	-	5 years
Machinery and equipment	7 years
Office equipment	3	-	5 years

Property and Equipment, Net (Tables)

12 Months Ended

Aug. 31, 2019

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment, net, as presented with the Consolidated Balance Sheets, are summarized as follows:



	August 31, 2019			August 25, 2018
(In thousands)	(Successor)			(Successor)
Furniture and fixtures	$	715		$	638
Computer equipment and software	956			305
Machinery and equipment	385			233
Website development costs	2,237			1,746
Leasehold improvements	361			337
Construction in progress	139			507
Property and equipment, gross	4,793			3,766
Less: accumulated depreciation	(2,337		)	(1,201		)
Property and equipment, net	$	2,456		$	2,565

Goodwill and Intangibles (Tables)

12 Months Ended

Aug. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the changes in Goodwill:



(In thousands)	Total
Balance as of August 26, 2017	$	465,030
Goodwill working capital adjustment	1,757
Measurement period adjustment of the Business Combination	4,640
Balance as of August 25, 2018	$	471,427

Schedule of Finite-Lived Intangible Assets

Intangible assets, net in our consolidated balance sheets consist of the following:



		August 31, 2019
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		8,382		50,618
Proprietary recipes and formulas	7 years	7,000		2,131		4,869
Licensing agreements	14 years	22,000		3,348		18,652
		$	320,000	$	13,861	$	306,139



		August 25, 2018
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		4,448		54,552
Proprietary recipes and formulas	7 years	7,000		1,131		5,869
Licensing agreements	14 years	22,000		1,778		20,222
		$	320,000	$	7,357	$	312,643

Schedule of Indefinite-Lived Intangible Assets

Intangible assets, net in our consolidated balance sheets consist of the following:



		August 31, 2019
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		8,382		50,618
Proprietary recipes and formulas	7 years	7,000		2,131		4,869
Licensing agreements	14 years	22,000		3,348		18,652
		$	320,000	$	13,861	$	306,139



		August 25, 2018
(In thousands)	Useful life	Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets with indefinite life:
Brands and trademarks	Indefinite life	$	232,000	$	—	$	232,000
Intangible assets with finite lives:
Customer relationships	15 years	59,000		4,448		54,552
Proprietary recipes and formulas	7 years	7,000		1,131		5,869
Licensing agreements	14 years	22,000		1,778		20,222
		$	320,000	$	7,357	$	312,643

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization for each of the next five fiscal years and thereafter is as follows:



(In thousands)
2020	$	6,505
2021	6,505
2022	6,505
2023	6,505
2024	6,505
Thereafter	41,614
Total	$	74,139

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Aug. 31, 2019

Other Liabilities Disclosure [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accrued expenses and other current liabilities were comprised of the following:



	August 31, 2019		August 25, 2018
(In thousands)	(Successor)		(Successor)
Professional fees	$	8,903	$	1,473
Accrued advertising allowances and claims	2,095		1,525
Accrued bonus	10,908		6,726
Freight accrual	1,791		1,318
Payroll-related accruals	841		1,004
Commissions	932		977
Income taxes payable	382		386
VAT payable	1,787		1,481
Other	2,294		985
Accrued expenses and other current liabilities	$	29,933	$	15,875

Long-Term Debt and Line of Credit (Tables)

12 Months Ended

Aug. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

At August 31, 2019 and August 25, 2018, there were no amounts drawn against the Revolving Credit Facility. Long-term debt consists of the following:



	August 31, 2019		August 25, 2018
(In thousands)	(Successor)		(Successor)
Term Loan	$	196,500	$	198,500
Less: Deferred financing fees	5,565		6,917
Total debt	190,935		191,583
Less: Current maturities, net of deferred financing fees of $1.3 million at August 31, 2019 and $1.4 million at August 25, 2018, respectively	676		648
Long-term debt, net of deferred financing fees	$	190,259	$	190,935

Principal maturities of debt

Aggregate principal maturities of debt are as follows:



(In thousands)
Fiscal year ending:
2020	$	2,000
2021	2,000
2022	2,000
2023	2,000
2024	188,500
Thereafter	—
Total debt	$	196,500

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Fair Value of Financial Instruments (Tables)

12 Months Ended

Aug. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The Company's liabilities measured at fair value as of August 25, 2018 are summarized as follows:



Successor	Level 1		Level 2		Level 3		Total
Liabilities
TRA liability	$	—	$	—	$	27,468	$	27,468

Income Taxes (Tables)

12 Months Ended

Aug. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The sources of income (loss) before income taxes are as follows:



	53-Weeks Ended		52-Weeks Ended		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)		(Successor)		(Successor)		(Predecessor)
Domestic	$	64,244	$	49,748	$	78	$	(690	)
Foreign	42		3,343		662		2,775
Total	$	64,286	$	53,091	$	740	$	2,085

Schedule of Components of Income Tax Expense (Benefit)

Income tax (benefit) expense was comprised of the following:



	53-Weeks Ended			52-Weeks Ended			From July 7, 2017 through August 26, 2017			From August 28, 2016 through July 6, 2017
	August 31, 2019			August 25, 2018			From July 7, 2017 through August 26, 2017			From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)			(Successor)			(Successor)			(Predecessor)
Current:
Federal	$	2,784		$	2,584		$	414		$	7,340
State and local	2,684			159			11			415
Foreign	374			1,001			247			695
Total current expense	5,842			3,744			672			8,450

Deferred:
Federal	9,976			(21,223		)	(379		)	(4,172		)
State and local	1,086			(26		)	(3		)	259
Foreign	(154		)	141			—			33
Total deferred income tax (benefit) expense	10,908			(21,108		)	(382		)	(3,880		)
Total tax (benefit) expense	$	16,750		$	(17,364	)	$	290		$	4,570

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory income tax rate to the effective income tax rate is as follows:



	53-Weeks Ended		52-Weeks Ended		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)		(Successor)		(Successor)		(Predecessor)
Statutory income tax expense:	21.0	%	25.5	%	34.0	%	34.0	%
State income tax expense, net of federal	3.9		3.1		1.7		21.0
Valuation allowance	(0.6	)	0.6		5.2		(0.9	)
Taxes on foreign income above (below) the U.S. tax	0.2		0.4		(3.3	)	(7.5	)
Warrant liabilities	—		—		—		(11.8	)
Tax Cuts and Jobs Act	—		(58.4	)	—		—
Change in tax rate	1.5		(4.0	)	—		(4.2	)
Non-deductible transaction costs	—		—		—		182.7
TRA contingent consideration	(0.4	)	(1.5	)	—		—
Other permanent items	0.5		1.6		1.6		6.0
Income tax (benefit) expense	26.1	%	(32.7	)%	39.2	%	219.3	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities at August 31, 2019 and August 25, 2018 were as follows:



	August 31, 2019			August 25, 2018
(In thousands)	(Successor)			(Successor)
Deferred tax assets
Accounts receivable allowances	$	2,601		$	1,885
Inventories writedowns	67			107
Accrued expenses	3,680			1,961
Net operating loss carryforwards	4,179			10,150
Share based compensation	1,755			975
Tax credits	351			10,066
Other	2,247			1,051
Deferred tax assets	14,880			26,195
Valuation allowance	(3,786		)	(4,195		)

Deferred tax asset, net of valuation allowance	11,094			22,000

Deferred tax liabilities:
Prepaid expense	(474		)	(419		)
Excess tax over book depreciation	(169		)	(77		)
Website development costs	(226		)	(238		)
Intangible assets	(74,431		)	(74,342		)
Other	(1,177		)	(1,399		)
Deferred tax liabilities	(76,477		)	(76,475		)
Net deferred tax liabilities	$	(65,383	)	$	(54,475	)

Commitments and Contingencies (Tables)

12 Months Ended

Aug. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum payments under lease arrangements with a remaining term in excess of one year were as follows as of August 31, 2019:



(In thousands)	Future Payments
2020	$	2,546
2021	1,947
2022	1,677
2023	1,093
2024	87
Thereafter	56
Total	$	7,406

Earnings Per Share (Tables)

12 Months Ended

Aug. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table reconciles the numerators and denominators used in the computations of both basic and diluted earnings per share:



	53-Weeks Ended		52-Weeks Ended		From July 7, 2017 through August 26, 2017
(In thousands, except share data)	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017
Basic earnings per share computation:
Numerator:
Net income available to common stock stockholders	$	47,536	$	70,455	$	450
Denominator:
Weighted average common shares - basic	80,734,091		70,582,149		70,562,477

Basic earnings per share from net income	$	0.59	$	1.00	$	0.01

Diluted earnings per share computation:
Numerator:
Net income available to common stock stockholders	$	47,536	$	70,455	$	450
Denominator:
Weighted average common shares outstanding - basic	80,734,091		70,582,149		70,562,477
Public and private warrants	3,615,198		3,006,073		690,248
Employee stock options	801,700		43,779		—
Non-vested shares	92,920		49,354		2,045
Weighted average common shares - diluted	85,243,909		73,681,355		71,254,770

Diluted earnings per share from net income	$	0.56	$	0.96	$	0.01

Stock Option Plan (Tables)

12 Months Ended

Aug. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Nonvested Performance-based Units Activity [Table Text Block]

The following table summarized Performance Stock Unit activity for the fifty-three week period ended August 31, 2019:



	Units		Weighted average grant-date fair value
Outstanding as of August 25, 2018	—		$	—

Granted	193,512		11.93
Vested	—		—
Forfeited	(1,123	)	11.93
Outstanding as of August 31, 2019	192,389		$	11.93

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of each option grant is estimated on the date of grant using the Black-Scholes Option Pricing Model based on the following assumptions:



	August 31, 2019				August 25, 2018				From July 7, 2017 through August 26, 2017
Expected volatility	29.3%	-	32.09	%	26.72%	-	27.5	%	27.5%
Expected dividend yield	—%				—%				—%
Expected option term	6				6				6
Risk-free rate of return	1.82%	-	3.13	%	1.98%	-	2.79	%	1.98%

Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity for the fifty-three week period ended August 31, 2019:



	Shares		Weighted average exercise price		Weighted average remaining contractual life (in years)	Aggregate intrinsic value
Outstanding as of August 25, 2018	2,506,083		$	12.28	8.84	$	14,293,484

Granted	362,565		20.34
Exercised	(119,913	)	12.00
Forfeited	—		—
Outstanding as of August 31, 2019	2,748,735		$	13.35	8.13

Vested and expected to vest as of August 31, 2019	2,748,735		$	13.35	8.13	$	44,743,427

Exercisable as of August 31, 2019	1,478,216		$	12.16	7.91	$	25,829,992

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following table summarized Restricted Stock Unit activity for the fifty-three week period ended August 31, 2019:



	Units		Weighted average grant-date fair value
Outstanding as of August 25, 2018	111,085		$	12.06

Granted	78,180		18.84
Vested	(87,158	)	11.98
Forfeited	(9,707	)	15.61
Outstanding as of August 31, 2019	92,400		$	17.50

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The following table summarized information about stock options outstanding at August 31, 2019:



Range of Exercise Prices				Number Outstanding	Weighted-Average Exercise Price		Weighted-Average Remaining Life (Years)	Number Exercisable	Weighted-Average Exercise Price
$	12.00	-	14.99	2,268,617	$	12.05	7.90	1,439,033	$	12.05
$	15.00	-	17.99	117,553	16.88		8.88	39,183	16.88
$	18.00	-	20.99	315,331	19.89		9.19	—	—
$	21.00	-	23.99	13,386	21.49		9.75	—	—
$	24.00	-	26.99	33,848	24.08		9.86	—	—
				2,748,735	$	13.35	8.13	1,478,216	$	12.16

Segment and Customer Information (Tables)

12 Months Ended

Aug. 31, 2019

Segment Reporting [Abstract]

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following is a summary of revenue from external customers by geographical location:



	53-Weeks Ended		52-weeks ended		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
	August 31, 2019		August 25, 2018		From July 7, 2017 through August 26, 2017		From August 28, 2016 through July 6, 2017
(In thousands)	(Successor)		(Successor)		(Successor)		(Predecessor)
Revenue from external customers
North America	$	498,196	$	405,055	$	52,373	$	316,776
International	25,187		26,374		3,961		23,061
Total	$	523,383	$	431,429	$	56,334	$	339,837

The following is a summary long lived assets by geographical location:



(In thousands)	August 31, 2019		August 25, 2018
Long lived assets
North America	$	2,437	$	2,547
International	19		18
Total	$	2,456	$	2,565

Schedules of Concentration of Risk, by Risk Factor

53-Weeks Ended

52-weeks ended

From July 7, 2017
through August 26, 2017

From August 28, 2016 through July 6, 2017

August 31, 2019

August 25, 2018

(Successor)

(Predecessor)

Customer 1

At August 31, 2019 and August 25, 2018, the Company had a single significant customer that accounted for the following amounts of the Company’s accounts receivable, net:



(In thousands)	August 31, 2019				August 25, 2018
Customer 1	$	17,386	39	%	$	14,519	34	%

Unaudited Quarterly Financial Data (Tables)

12 Months Ended

Aug. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

Summarized quarterly financial data:



	53-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended
(In thousands, except per share amounts)	August 31, 2019		August 31, 2019		May 25, 2019		February 23, 2019		November 24, 2018
Net sales	$	523,383	$	139,184	$	139,468	$	123,800	$	120,931
Gross profit ⁽¹⁾	$	217,405	$	59,173	$	56,657	$	49,655	$	51,920
Income from operations	$	72,809	$	12,115	$	20,510	$	19,002	$	21,182
Net income	$	47,536	$	6,091	$	13,466	$	12,722	$	15,257

Earnings per share from net income:
Basic	$	0.59	$	0.07	$	0.16	$	0.16	$	0.20
Diluted	$	0.56	$	0.07	$	0.16	$	0.15	$	0.18



	52-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended		13-weeks ended
(In thousands, except per share amounts)	August 25, 2018		August 25, 2018		May 26, 2018		February 24, 2018		November 25, 2017
Net sales	$	431,429	$	108,262	$	107,233	$	109,347	$	106,587
Gross profit ⁽¹⁾	$	180,366	$	46,275	$	44,797	$	42,937	$	46,357
Income from operations	$	64,730	$	14,859	$	13,802	$	16,783	$	19,286
Net income	$	70,455	$	11,706	$	7,137	$	41,394	$	10,218

Earnings per share from net income:
Basic	$	1.00	$	0.17	$	0.10	$	0.59	$	0.14
Diluted	$	0.96	$	0.15	$	0.10	$	0.56	$	0.14

Change in Accounting Principle (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Change in Accounting Principle
Cost of goods sold	$ 39,584		$ 305,978	$ 251,063
Distribution	0		0	0
General and administrative	6,969		61,972	49,635
Depreciation and amortization	985		7,496	7,498
Change in accounting principle and presentation
Change in Accounting Principle
Cost of goods sold	3,643		32,296	27,190
Distribution	(2,784)		(23,387)	(19,685)
General and administrative	(844)		(8,761)	(7,331)
Depreciation and amortization	(15)		(148)	(174)
Other operating expense
Change in Accounting Principle
Cost of goods sold	0		0	0
Distribution	0		0	0
General and administrative	0		21	633
Depreciation and amortization	0		0	0
Under previous method
Change in Accounting Principle
Cost of goods sold	35,941		273,682	223,873
Distribution	2,784		23,387	19,685
General and administrative	7,813		70,712	56,333
Depreciation and amortization	$ 1,000		$ 7,644	$ 7,672
Predecessor
Change in Accounting Principle
Cost of goods sold		$ 200,026
Distribution		0
General and administrative		34,567
Depreciation and amortization		8,409
Predecessor \| Change in accounting principle and presentation
Change in Accounting Principle
Cost of goods sold		20,028
Distribution		(14,970)
General and administrative		(4,850)
Depreciation and amortization		(208)
Predecessor \| Other operating expense
Change in Accounting Principle
Cost of goods sold		0
Distribution		0
General and administrative		141
Depreciation and amortization		0
Predecessor \| Under previous method
Change in Accounting Principle
Cost of goods sold		179,998
Distribution		14,970
General and administrative		39,276
Depreciation and amortization		$ 8,617

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Accounts receivable, net
Allowance for doubtful accounts			$ 0.6	$ 0.7
Inventories
Reserve for inventory four to six months from expiration			50.00%
Reserve for inventory within three months of expiration			100.00%
Provision for obsolete inventory			$ 0.4	0.5
Property, Plant and Equipment
Advertising expense	$ 3.8		35.4	34.0
Production costs			0.0
Research and development expenses	0.4		2.2	2.5
Defined contribution plan expense	$ 0.0		$ 0.6	$ 0.4
Furniture and fixtures
Property, Plant and Equipment
Estimated useful lives			7 years
Computer equipment, software and website development \| Minimum
Property, Plant and Equipment
Estimated useful lives			3 years
Computer equipment, software and website development \| Maximum
Property, Plant and Equipment
Estimated useful lives			5 years
Machinery and equipment
Property, Plant and Equipment
Estimated useful lives			7 years
Office equipment \| Minimum
Property, Plant and Equipment
Estimated useful lives			3 years
Office equipment \| Maximum
Property, Plant and Equipment
Estimated useful lives			5 years
Predecessor
Property, Plant and Equipment
Advertising expense		$ 26.6
Research and development expenses		1.9
Defined contribution plan expense		$ 0.3

Property and Equipment, Net (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Property and Equipment
Property and equipment, gross			$ 4,793	$ 3,766
Less: accumulated depreciation			(2,337)	(1,201)
Property and equipment, net			2,456	2,565
Depreciation and amortization	$ 100		1,100	1,200
Loss on disposal of property and equipment	$ 0		6	128
Furniture and fixtures
Property and Equipment
Property and equipment, gross			715	638
Computer equipment and software
Property and Equipment
Property and equipment, gross			956	305
Machinery and equipment
Property and Equipment
Property and equipment, gross			385	233
Website development costs
Property and Equipment
Property and equipment, gross			2,237	1,746
Leasehold improvements
Property and Equipment
Property and equipment, gross			361	337
Construction in progress
Property and Equipment
Property and equipment, gross			$ 139	$ 507
Predecessor
Property and Equipment
Depreciation and amortization		$ 1,000
Loss on disposal of property and equipment		$ 0

Goodwill and Intangibles - Schedule of Goodwill (Details) - USD ($)	12 Months Ended
	Aug. 31, 2019	Aug. 25, 2018
Goodwill
Beginning Balance	$ 471,427,000	$ 465,030,000
Goodwill working capital adjustment		1,757,000
Measurement period adjustment of the Business Combination	0	4,640,000
Ending Balance	471,427,000	$ 471,427,000
Goodwill impairment charges	$ 0

Goodwill and Intangibles - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Intangible assets
Intangible assets, Gross carrying amount			$ 320,000	$ 320,000
Accumulated amortization			(13,861)	(7,357)
Intangible assets, Net carrying amount			306,139	312,643
Finite-lived intangible assets, Net carrying amount			74,139
Amortization of Intangible Assets	$ 900		6,500	$ 6,500
Estimated future amortization expense
2020			6,505
2021			6,505
2022			6,505
2023			6,505
2024			6,505
Thereafter			$ 41,614
Customer relationships
Intangible assets with indefinite life:
Useful life			15 years	15 years
Intangible assets
Finite-lived intangible assets, Gross carrying amount			$ 59,000	$ 59,000
Accumulated amortization			(8,382)	(4,448)
Finite-lived intangible assets, Net carrying amount			$ 50,618	$ 54,552
Proprietary recipes and formulas
Intangible assets with indefinite life:
Useful life			7 years	7 years
Intangible assets
Finite-lived intangible assets, Gross carrying amount			$ 7,000	$ 7,000
Accumulated amortization			(2,131)	(1,131)
Finite-lived intangible assets, Net carrying amount			$ 4,869	$ 5,869
Licensing agreements
Intangible assets with indefinite life:
Useful life			14 years	14 years
Intangible assets
Finite-lived intangible assets, Gross carrying amount			$ 22,000	$ 22,000
Accumulated amortization			(3,348)	(1,778)
Finite-lived intangible assets, Net carrying amount			18,652	20,222
Brands and trademarks
Intangible assets with indefinite life:
Indefinite-lived intangible assets			$ 232,000	$ 232,000
Predecessor
Intangible assets
Amortization of Intangible Assets		$ 8,500

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Entity Information
Professional fees	$ 8,903	$ 1,473
Accrued advertising allowances and claims	2,095	1,525
Accrued bonus	10,908	6,726
Freight accrual	1,791	1,318
Payroll-related accruals	841	1,004
Commissions	932	977
Income taxes payable	382	386
VAT payable	1,787	1,481
Other	2,294	985
Accrued expenses and other current liabilities	$ 29,933	$ 15,875

Long-Term Debt and Line of Credit - Narrative (Details) - USD ($) $ in Millions	Mar. 16, 2018	Jul. 07, 2017	Aug. 31, 2019	Aug. 25, 2018
Term Loan
Debt Instrument
Borrowing capacity		$ 200.0
Barclays Bank PLC and Other Parties \| Base Rate
Debt Instrument
Basis spread on variable rate		0.50%
Barclays Bank PLC and Other Parties \| Eurocurrency
Debt Instrument
Basis spread on variable rate		1.00%
Barclays Bank PLC and Other Parties \| LIBOR
Debt Instrument
Basis spread on variable rate		4.00%
Barclays Bank PLC and Other Parties \| Term Loan
Debt Instrument
Maturity period		7 years
Barclays Bank PLC and Other Parties \| Term Loan \| Base Rate
Debt Instrument
Basis spread on variable rate	2.50%
Barclays Bank PLC and Other Parties \| Term Loan \| Eurocurrency
Debt Instrument
Basis spread on variable rate		3.00%
Barclays Bank PLC and Other Parties \| Term Loan \| LIBOR
Debt Instrument
Basis spread on variable rate	3.50%
Interest rate floor		1.00%
Barclays Bank PLC and Other Parties \| Revolving Credit Facility
Debt Instrument
Borrowing capacity		$ 75.0
Maturity period		5 years
Amounts drawn		$ 0.0
Net leverage ratio (equal to or less than)		6.25
Net leverage ratio post reduction (equal to or less than)		6.00
Percent of commitments (in excess of)		30.00%
Outstanding debt			$ 0.0	$ 0.0
Barclays Bank PLC and Other Parties \| Revolving Credit Facility \| Eurocurrency
Debt Instrument
Basis spread on variable rate		2.00%
Barclays Bank PLC and Other Parties \| Revolving Credit Facility \| LIBOR
Debt Instrument
Basis spread on variable rate		3.00%

Long-Term Debt and Line of Credit - Schedule of Debt (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Line of credit facility
Term Loan	$ 196,500	$ 198,500
Less: Deferred financing fees	5,565	6,917
Total debt	190,935	191,583
Less: Current maturities, net of deferred financing fees of $1.3 million at August 31, 2019 and $1.4 million at August 25, 2018, respectively	676	648
Long-term debt, net of deferred financing fees	190,259	190,935
Deferred financing fees, current	1,300	1,400
Aggregate principal maturities
2020	2,000
2021	2,000
2022	2,000
2023	2,000
Thereafter	0
Total principle	$ 196,500	$ 198,500

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	2 Months Ended	6 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Feb. 24, 2018	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018	Jul. 07, 2017
Liabilities
TRA liability					$ 27,468
Gain of settlement of TRA liability	$ 0			$ 1,534	0
Change in fair value of contingent consideration	0	$ 4,700		533	(2,848)
Warrants
Change in warrant liabilities	$ 0			$ 0	0
Warrant liability settled in period						$ 15,000
Level 1
Liabilities
TRA liability					0
Level 2
Liabilities
TRA liability					0
Level 3
Liabilities
TRA liability					$ 27,468
Predecessor
Liabilities
Gain of settlement of TRA liability			$ 0
Change in fair value of contingent consideration			0
Warrants
Change in warrant liabilities			$ (722)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	2 Months Ended	6 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Aug. 26, 2017	Feb. 24, 2018	Aug. 31, 2019	Aug. 25, 2018	Jul. 07, 2017
Entity Information
Valuation allowance			$ (3,786)	$ (4,195)
Unrecognized tax benefits			0	0
Accrued interest or penalties on unrecognized tax benefits			0
Tax Receivable Agreement
Loss (gain) in fair value change of contingent consideration - TRA liability	$ 0	$ 4,700	533	(2,848)
Payment of TRA liability	0		26,468	0
2023			188,500
Gain of settlement of TRA liability	$ 0		1,534	0
Acquisition of Atkins
Tax Receivable Agreement
TRA contingent payment (up to)					$ 100,000
Federal
Entity Information
Operating loss carryforwards			0	22,200
State and local
Entity Information
Operating loss carryforwards			12,200	33,600
Operating loss carryforwards, valuation allowance			400
Foreign
Entity Information
Operating loss carryforwards			14,200	$ 14,700
Increase in operating loss carryforward			500
Operating loss carryforwards, valuation allowance			$ 3,400

Income Taxes - Components of Income Tax (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Components of income before income taxes
Domestic	$ 78		$ 64,244	$ 49,748
Foreign	662		42	3,343
Income before income taxes	740		64,286	53,091
Current:
Federal	414		2,784	2,584
State and local	11		2,684	159
Foreign	247		374	1,001
Total current	672		5,842	3,744
Deferred:
Federal	(379)		9,976	(21,223)
State and local	(3)		1,086	(26)
Foreign	0		(154)	141
Total deferred income tax expense (benefit)	(382)		10,908	(21,108)
Income tax expense (benefit)	$ 290		$ 16,750	$ (17,364)
Effective rate reconciliation
Statutory income tax expense	34.00%		21.00%	25.50%
State income tax expense, net of federal	1.70%		3.90%	3.10%
Valuation allowance	5.20%		(0.60%)	0.60%
Taxes on foreign income above (below) the U.S. tax	(3.30%)		0.20%	0.40%
Warrant liabilities	0.00%		0.00%	0.00%
Change in tax rate	0.00%		0.00%	(58.40%)
Change In State Tax Rate	0.00%		1.50%	(4.00%)
Non-deductible transaction costs	0.00%		0.00%	0.00%
TRA contingent consideration	0.00%		(0.40%)	(1.50%)
Other permanent items	1.60%		0.50%	1.60%
Income tax expense (benefit)	39.20%		26.10%	(32.70%)
Predecessor
Components of income before income taxes
Domestic		$ (690)
Foreign		2,775
Income before income taxes		2,085
Current:
Federal		7,340
State and local		415
Foreign		695
Total current		8,450
Deferred:
Federal		(4,172)
State and local		259
Foreign		33
Total deferred income tax expense (benefit)		(3,880)
Income tax expense (benefit)		$ 4,570
Effective rate reconciliation
Statutory income tax expense		34.00%
State income tax expense, net of federal		21.00%
Valuation allowance		(0.90%)
Taxes on foreign income above (below) the U.S. tax		(7.50%)
Warrant liabilities		(11.80%)
Change in tax rate		0.00%
Change In State Tax Rate		(4.20%)
Non-deductible transaction costs		182.70%
TRA contingent consideration		0.00%
Other permanent items		6.00%
Income tax expense (benefit)		219.30%

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 25, 2018
Deferred tax assets
Accounts receivable allowances	$ 2,601	$ 1,885
Inventories reserves	67	107
Accrued expenses	3,680	1,961
Net operating loss carryforwards	4,179	10,150
Share based compensation	1,755	975
Tax credit carryforwards	351	10,066
Other	2,247	1,051
Deferred tax assets	14,880	26,195
Valuation allowance	(3,786)	(4,195)
Deferred tax assets, net of valuation allowance	11,094	22,000
Deferred tax liabilities
Prepaid expense	(474)	(419)
Excess tax over book depreciation	(169)	(77)
Website development costs	(226)	(238)
Intangible assets	(74,431)	(74,342)
Other	(1,177)	(1,399)
Deferred tax liabilities	(76,477)	(76,475)
Net deferred tax liabilities	$ (65,383)	$ (54,475)

Commitments and Contingencies (Details) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Aug. 26, 2017 USD ($)	Jul. 06, 2017 USD ($)	Aug. 31, 2019 USD ($) building	Aug. 25, 2018 USD ($)
Entity Information
Number of buildings with non-cancelable operating leases \| building			6
Rent expense	$ 300		$ 2,200	$ 2,400
Litigation Settlement, Expense			3,500
Celebrity endorsement payment obligation			300
Future minimum payments under operating lease arrangements
2020			2,546
2021			1,947
2022			1,677
2023			1,093
2024			87
Thereafter			56
Total			$ 7,406
Predecessor
Entity Information
Rent expense		$ 1,700

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018	Jul. 07, 2017
Successor Stock
Common stock shares authorized (in shares)			600,000,000	600,000,000
Common shares par value (in dollars per share)			$ 0.01	$ 0.01
Common stock shares outstanding (in shares)			81,875,050	70,562,477
Common stock shares issued (in shares)			1,333,848
Warrants
Number of Warrants Exercised in Exchange for Common Stock			9,866,451
Common Shares Surrendered For Each Public Warrant Surrendered			0.61885
Common Shares Received for each Public Warrant Surrendered			0.38115
Warrant, Exercise Price, Increase			3,499,639
Cash received from warrant exercises	$ 0		$ 113,464	$ 232
Other income (expense) included in changes in warrant liabilities	$ 0		0	$ 0
Warrant liability settled in period					$ 15,000
Stock Repurchase Program, Authorized Amount			$ 50,000
Repurchase of common stock			98,234
Treasury Stock Acquired, Average Cost Per Share			$ 21.83
Predecessor
Warrants
Cash received from warrant exercises		$ 0
Other income (expense) included in changes in warrant liabilities		$ (722)
Public Warrants
Warrants
Warrants issued (in shares)		13,416,667
Warrant price per share (in dollars per share)			$ 11.50
Private Placement Warrants
Warrants
Warrants issued (in shares)			6,700,000

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended								12 Months Ended
	Aug. 26, 2017	Aug. 31, 2019	May 25, 2019	Feb. 23, 2019	Nov. 24, 2018	Aug. 25, 2018	May 26, 2018	Feb. 24, 2018	Nov. 25, 2017	Aug. 31, 2019	Aug. 25, 2018
Numerator:
Net income available to common stock stockholders	$ 450	$ 6,091	$ 13,466	$ 12,722	$ 15,257	$ 11,706	$ 7,137	$ 41,394	$ 10,218	$ 47,536	$ 70,455
Denominator:
Weighted average common shares - basic (in shares)	70,562,477									80,734,091	70,582,149
Basic earnings per share from net income (in dollars per share)	$ 0.01	$ 0.07	$ 0.16	$ 0.16	$ 0.20	$ 0.17	$ 0.10	$ 0.59	$ 0.14	$ 0.59	$ 1.00
Numerator:
Net income available to common stock stockholders	$ 450	$ 6,091	$ 13,466	$ 12,722	$ 15,257	$ 11,706	$ 7,137	$ 41,394	$ 10,218	$ 47,536	$ 70,455
Denominator:
Weighted average common shares - basic (in shares)	70,562,477									80,734,091	70,582,149
Warrant conversion (in shares)	690,248									3,615,198	3,006,073
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	2,045									92,920	49,354
Incremental Common Shares Attributable to Dilutive Effect of Stock Options	0									801,700	43,779
Weighted average common shares - diluted (in shares)	71,254,770.00									85,243,909	73,681,355
Diluted earnings per share from net income (in dollars per share)	$ 0.01	$ 0.07	$ 0.16	$ 0.15	$ 0.18	$ 0.15	$ 0.10	$ 0.56	$ 0.14	$ 0.56	$ 0.96
Antidilutive stock options excluded from computation of earnings per share	2,600,000									200,000	200,000

Stock Option Plan (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
Stock Option Plan (Details) - USD ($) $ in Thousands	Aug. 26, 2017	Aug. 31, 2019	Aug. 25, 2018	Jul. 07, 2017
Share-based Compensation
Stock compensation expense	$ 412	$ 5,501	$ 4,029
Incentive Plan
Share-based Compensation
Number of shares authorized				9,067,917
Number of shares available for grant		5,800,000
Employee stock options
Share-based Compensation
Exercisable (in shares)	0	1,478,216
Employee stock options \| Incentive Plan
Share-based Compensation
Award vesting period		3 years
Expiration period		10 years
Non-vested shares
Share-based Compensation
Award vesting period		3 years
Granted in period (in shares)		78,180

Stock Option Plan - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Additional disclosures
Proceeds from option exercises	$ 0		$ 706	$ 120
Predecessor
Additional disclosures
Proceeds from option exercises		$ 109
Employee stock options
Share-based Compensation
Risk-free rate of return, maximum	1.98%		3.13%	2.79%
Shares
Outstanding at beginning of period (in shares)			2,506,083
Granted (in shares)			362,565
Exercised (in shares)			(119,913)
Forfeited (in shares)			0
Outstanding at end of period (in shares)			2,748,735	2,506,083
Vested or expected to vest (in shares)			2,748,735
Exercisable (in shares)	0		1,478,216
Weighted average exercise price
Outstanding at beginning of period (in dollars per share)			$ 12.28
Granted (in dollars per share)			20.34
Exercised (in dollars per share)			12.00
Forfeited (in dollars per share)			0.00
Outstanding at end of period (in dollars per share)			13.35	$ 12.28
Vested or expected to vest (in dollars per share)			13.35
Exercisable (in dollars per share)			$ 12.16
Weighted average remaining contractual life (if years)
Outstanding at end of period, contractual life			8 years 1 month 17 days	8 years 10 months 2 days
Vested or expected to vest, contractual life			8 years 1 month 17 days
Exercisable, contractual life			7 years 10 months 27 days
Intrinsic value
Outstanding, intrinsic value				$ 14,293
Vested and expected to vest, intrinsic value			$ 44,743
Exercisable, intrinsic value			25,830
Additional disclosures
Compensation not yet recognized			$ 5,000
Compensation cost not yet recognized, period for recognition			1 year 4 months 13 days
Proceeds from option exercises			$ 700	$ 100

Stock Option Plan - Range of Exercise Prices (Details)	12 Months Ended
Stock Option Plan - Range of Exercise Prices (Details)	Aug. 31, 2019 $ / shares shares
Stock Options, Exercise Price Range
Number of outstanding options \| shares	2,748,735
Outstanding options, weighted average exercise price	$ 13.35
Outstanding options, weighted average remaining contractual term	8 years 1 month 17 days
Number of exercisable options \| shares	1,478,216
Exercisable options, weighted average exercise price	$ 12.16
Exercise Price Range from $12.00 to $14.99
Stock Options, Exercise Price Range
Exercise price range, lower range limit	12.00
Exercise price range, upper range limit	$ 14.99
Number of outstanding options \| shares	2,268,617
Outstanding options, weighted average exercise price	$ 12.05
Outstanding options, weighted average remaining contractual term	7 years 10 months 24 days
Number of exercisable options \| shares	1,439,033
Exercisable options, weighted average exercise price	$ 12.05
Exercise Price Range from $15.00 to $17.99
Stock Options, Exercise Price Range
Exercise price range, lower range limit	15.00
Exercise price range, upper range limit	$ 17.99
Number of outstanding options \| shares	117,553
Outstanding options, weighted average exercise price	$ 16.88
Outstanding options, weighted average remaining contractual term	8 years 10 months 17 days
Number of exercisable options \| shares	39,183
Exercisable options, weighted average exercise price	$ 16.88
Exercise Price Range from $18.00 to $20.99
Stock Options, Exercise Price Range
Exercise price range, lower range limit	18.00
Exercise price range, upper range limit	$ 20.99
Number of outstanding options \| shares	315,331
Outstanding options, weighted average exercise price	$ 19.89
Outstanding options, weighted average remaining contractual term	9 years 2 months 8 days
Number of exercisable options \| shares	0
Exercisable options, weighted average exercise price	$ 0.00
Exercise Price Range from $21.00 to $23.99
Stock Options, Exercise Price Range
Exercise price range, lower range limit	21.00
Exercise price range, upper range limit	$ 23.99
Number of outstanding options \| shares	13,386
Outstanding options, weighted average exercise price	$ 21.49
Outstanding options, weighted average remaining contractual term	9 years 9 months
Number of exercisable options \| shares	0
Exercisable options, weighted average exercise price	$ 0.00
Exercise Price Range from $24.00 to $26.99
Stock Options, Exercise Price Range
Exercise price range, lower range limit	24.00
Exercise price range, upper range limit	$ 26.99
Number of outstanding options \| shares	33,848
Outstanding options, weighted average exercise price	$ 24.08
Outstanding options, weighted average remaining contractual term	9 years 10 months 9 days
Number of exercisable options \| shares	0
Exercisable options, weighted average exercise price	$ 0.00

Stock Option Plan - Fair Value Assumptions (Details) - Employee stock options - USD ($)	2 Months Ended	12 Months Ended
	Aug. 26, 2017	Aug. 31, 2019	Aug. 25, 2018
Share-based Compensation
Expected volatility, minimum		29.30%	26.72%
Expected volatility, maximum	27.50%	32.10%	27.50%
Expected dividend rate	0.00%	0.00%	0.00%
Expected option term	6 years	6 years	6 years
Risk-free rate of return, minimum		1.82%	1.98%
Risk-free rate of return, maximum	1.98%	3.13%	2.79%
Weighted average grant date fair value	$ 3.71	$ 7.10	$ 4.60
Expected dividend payments		$ 0

Stock Option Plan - Restricted Stock Unit Activity (Details) - Non-vested shares $ / shares in Units, $ in Millions	12 Months Ended
	Aug. 31, 2019 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) \| shares	111,085
Granted in period (in shares) \| shares	78,180
Vested in period (in shares) \| shares	(87,158)
Forfeited in period (in shares) \| shares	(9,707)
Non-vested at end of period (in shares) \| shares	92,400
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) \| $ / shares	$ 12.06
Granted (in dollars per share) \| $ / shares	18.84
Vested (in dollars per share) \| $ / shares	11.98
Forfeited (in dollars per share) \| $ / shares	15.61
Non-vested at end of period (in dollars per share) \| $ / shares	$ 17.50
Additional disclosures
Award vesting period	3 years
Compensation cost not yet recognized, period for recognition	11 months 19 days
Compensation cost not yet recognized \| $	$ 0.7

Stock Option Plan - Performance Stock Units Activity (Details) - Performance Stock Units $ / shares in Units, $ in Millions	12 Months Ended
	Aug. 31, 2019 USD ($) $ / shares shares
Units
Non-vested at beginning of period (in shares) \| shares	0
Granted in period (in shares) \| shares	193,512
Vested in period (in shares) \| shares	0
Forfeited in period (in shares) \| shares	(1,123)
Non-vested at end of period (in shares) \| shares	192,389
Weighted average grant-date fair value
Non-vested at beginning of period (in dollars per share) \| $ / shares	$ 0.00
Granted (in dollars per share) \| $ / shares	11.93
Vested (in dollars per share) \| $ / shares	0.00
Forfeited (in dollars per share) \| $ / shares	11.93
Non-vested at end of period (in dollars per share) \| $ / shares	$ 11.93
Additional disclosures
Compensation cost not yet recognized \| $	$ 1.7
Compensation cost not yet recognized, period for recognition	2 years 2 months 8 days
Award vesting period	3 years
Minimum
Additional disclosures
Award vesting rights, percentage	0.00%
Maximum
Additional disclosures
Award vesting rights, percentage	100.00%

Stock Option Plan - Predecessor Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Performance Shares
Share-based Compensation
Award vesting period			3 years
Employee stock options
Share-based Compensation
Expected option term	6 years		6 years	6 years
Weighted average grant date fair value	$ 3.71		$ 7.10	$ 4.60
Expected volatility, maximum	27.50%		32.10%	27.50%
Expected dividend rate	0.00%		0.00%	0.00%
Risk-free rate of return, minimum			1.82%	1.98%
Risk-free rate of return, maximum	1.98%		3.13%	2.79%
Predecessor
Share-based Compensation
Exercises in period, intrinsic value		$ 11,106
Vested in period, fair value		0
Tax benefit related to stock option expense		$ 910
Predecessor \| Option Plan
Share-based Compensation
Award vesting period		5 years
Weighted average grant date fair value		$ 261.80
Expected volatility, maximum		55.00%
Expected dividend rate		0.00%
Risk-free rate of return, minimum		1.60%
Risk-free rate of return, maximum		1.74%
Predecessor \| Option Plan \| Minimum
Share-based Compensation
Expected option term		5 years 1 month 6 days
Predecessor \| Option Plan \| Maximum
Share-based Compensation
Expected option term		6 years 6 months
Predecessor \| Option Plan \| Performance Shares
Share-based Compensation
Award vesting period		5 years
Predecessor \| Option Plan \| Employee stock options
Share-based Compensation
Expiration period		10 years

Related Party Transactions (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Related Party Transaction
Payment of TRA liability	$ 0		$ 26,468	$ 0
Goodwill working capital adjustment				$ 1,757
Management fee
Related Party Transaction
Related Party Transaction, Expenses from Transactions with Related Party		$ 1,200
Former Majority Stockholder, Atkins
Related Party Transaction
Payment of TRA liability			$ 26,500
Predecessor
Related Party Transaction
Payment of TRA liability		$ 0
Predecessor \| Former Majority Stockholder, Atkins \| Majority Shareholder \| Management fee
Related Party Transaction
Related Party Transaction, Contractual Agreement, Management Fee, Percentage of EBITDA		2.00%
Minimum \| Predecessor \| Former Majority Stockholder, Atkins \| Majority Shareholder \| Management fee
Related Party Transaction
Related Party Transaction, Contractual Agreement, Management Fee		$ 900
Maximum \| Predecessor \| Former Majority Stockholder, Atkins \| Majority Shareholder \| Out-of-pocket expenses
Related Party Transaction
Related Party Transaction, Contractual Agreement, Expense Reimbursement		$ 200

Segment and Customer Information (Details)	12 Months Ended
Segment and Customer Information (Details)	Aug. 31, 2019 segment
Segment Reporting [Abstract]
Number of operating segments	1

Segment and Customer Information - Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended								10 Months Ended	12 Months Ended
	Aug. 26, 2017	Aug. 31, 2019	May 25, 2019	Feb. 23, 2019	Nov. 24, 2018	Aug. 25, 2018	May 26, 2018	Feb. 24, 2018	Nov. 25, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 56,334	$ 139,184	$ 139,468	$ 123,800	$ 120,931	$ 108,262	$ 107,233	$ 109,347	$ 106,587		$ 523,383	$ 431,429
Long lived assets		2,456				2,565					2,456	2,565
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	52,373										498,196	405,055
Long lived assets		2,437				2,547					2,437	2,547
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 3,961										25,187	26,374
Long lived assets		$ 19				$ 18					$ 19	$ 18
Predecessor
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales										$ 339,837
Predecessor \| North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales										316,776
Predecessor \| International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales										$ 23,061

Segment and Customer Information - Schedules of Concentration of Risk, by Risk Factor (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Aug. 26, 2017	Jul. 06, 2017	Aug. 31, 2019	Aug. 25, 2018
Concentration Risk [Line Items]
Accounts receivable, net			$ 44,240	$ 36,622
Customer 1 \| Customer Concentration Risk \| Sales Revenue, Net
Concentration Risk [Line Items]
Risk percentage	42.00%		44.00%	43.00%
Customer 1 \| Customer Concentration Risk \| Accounts Receivable
Concentration Risk [Line Items]
Risk percentage			39.00%	34.00%
Accounts receivable, net			$ 17,386	$ 14,519
Customer 1 \| Predecessor \| Customer Concentration Risk \| Sales Revenue, Net
Concentration Risk [Line Items]
Risk percentage		46.00%

Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended								12 Months Ended
	Aug. 26, 2017	Aug. 31, 2019	May 25, 2019	Feb. 23, 2019	Nov. 24, 2018	Aug. 25, 2018	May 26, 2018	Feb. 24, 2018	Nov. 25, 2017	Aug. 31, 2019	Aug. 25, 2018
Entity Information
Net sales	$ 56,334	$ 139,184	$ 139,468	$ 123,800	$ 120,931	$ 108,262	$ 107,233	$ 109,347	$ 106,587	$ 523,383	$ 431,429
Gross profit	16,750	59,173	56,657	49,655	51,920	46,275	44,797	42,937	46,357	217,405	180,366
Income from operations	1,859	12,115	20,510	19,002	21,182	14,859	13,802	16,783	19,286	72,809	64,730
Net income	$ 450	$ 6,091	$ 13,466	$ 12,722	$ 15,257	$ 11,706	$ 7,137	$ 41,394	$ 10,218	$ 47,536	$ 70,455
Earnings per share from net income:
Basic (in dollars per share)	$ 0.01	$ 0.07	$ 0.16	$ 0.16	$ 0.20	$ 0.17	$ 0.10	$ 0.59	$ 0.14	$ 0.59	$ 1.00
Diluted (in dollars per share)	$ 0.01	$ 0.07	$ 0.16	$ 0.15	$ 0.18	$ 0.15	$ 0.10	$ 0.56	$ 0.14	$ 0.56	$ 0.96

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details