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Article: Nestle agrees to buy Jenny Craig for $600m; pending sale expands weight loss firm's international presence.(Jenny Craig Inc.)(Nestle S.A.)
- Article from:
- San Diego Business Journal
- Article date:
- June 26, 2006
- Author:
CopyrightCOPYRIGHT 2006 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...