Nestle puts on weight with Jenny Craig
Nestle SA has agreed with a private equity group including ACI Capital and MidOcean Partners, the acquisition of Jenny Craig, a weight management company offering branded nutritional products and services in the US, Canada, Australia and New Zealand.
The company achieved sales in excess of US$ 400 million during the past year with double-digit organic growth. Nestle will pay approximately US$ 600 million.
The Jenny Craig acquisition follows the recent acquisition of the Uncle Toby’s cereals and nutritional snacks business in Australia.
Jenny Craig offers weight management programmes tailored to consumers’ specific needs, including a range of portion-controlled prepared food products designed to fit the consumer’s lifestyle and nutritional needs. The current Jenny Craig management team will continue to run the business, reporting to Nestle Nutrition.
This acquisition will also reinforce Nestle Nutrition’s presence in the US, the world’s largest nutrition and weight management market. Peter Brabeck-Letmathe, chairman and CEO of Nestle, said,“With this strategic acquisition, the group takes another important step in its transformation process into a nutrition, health and wellness company that sees weight management as a key competence.
