Nestlé Sells Jenny Craig in North America and Oceania to Private Equity
7 Nov 2013 --- Nestlé has sold its weight management business Jenny Craig in North America and Oceania to a US-based private equity group North Castle Partners. The Jenny Craig business in France is not part of the transaction. The new owners will take over the businesses and offer employment to Jenny Craig staff in North America and Oceania.
North Castle Partners is a Connecticut-based leading US private equity firm that invests in businesses that promote health, wellness and active living. Jenny Craig was founded in 1983 and offers consumers weight management programmes tailored to their specific needs. It has been part of Nestlé Nutrition since 2006. Nestlé Nutrition is part of Nestlé, the world’s leading Nutrition, Health and Wellness company. Nestlé employs more than 330,000 people and its products are sold in almost every country in the world.
The transaction is subject to customary closing conditions and the financial details will not be disclosed.
There are roughly 600 Jenny Craig weight-management centers—primarily in the U.S. and Australia—where it offers counseling and diet meals that are also sold online. North Castle plans to combine Jenny Craig with Curves International, the female-oriented fitness club franchiser it acquired last year.
