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Nestle agrees to buy Jenny Craig for $600m; pending sale expands weight loss firm's international presence.

Publication: San Diego Business Journal
Publication Date: 26-JUN-06 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Nestle agrees to buy Jenny Craig for $600m; pending sale expands weight loss firm's international presence.(Jenny Craig Inc.)(Nestle S.A.)

Article Excerpt
Rather than getting nostalgic, Sid Craig said he was thrilled about the announced sale last week of Jenny Craig, Inc., the company he founded with his wife 23 years ago.

Swiss-based Nestle S.A. is paying $600 million for the weight loss business that boasts 641 centers and about 4,000 employees, including 250 at its Cadsbad headquarters.

ACI Capital, a New York-based private investment firm, and Mid-Ocean Partners, a New York and London-based private investment firm, owners of Jenny Craig, said last week that the transaction is expected to close in the third quarter.

"I'm excited about Nestle taking over, and taking the company to places it's never been, like Europe," said Craig, who co-founded Jenny Craig with his wife in 1983. "Nestle is one of the biggest companies in...

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