The owner of low-carb diet brand Atkins Nutritionals is reportedly looking for a buyer for the company.

A report by the Denver Post, citing people familiar with the matter, said private equity-firm Roark Capital Group which owns Atkins is preparing the company for a sale, which could reach more than US$1bn.

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Atkins sells protein bars, frozen meals and shakes at retailers including Walmart and Target.

Roark bought Atkins in 2010 for an undisclosed amount. The company could not be reached for comment at time of press.

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