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Article: Weight Watchers International, Inc. Announces Acquisition of New Jersey Franchised Operation.
- Article from:
- PR Newswire
- Article date:
- January 18, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. 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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WOODBURY, N.Y. -- Weight Watchers International, Inc. announced today that it has acquired the operations of one of its franchisees, Weight Watchers of North Jersey, Inc. This operation conducts over 500 meetings each week at approximately 150 locations across most of New Jersey, generating annual revenue and operating earnings (adjusted for non-recurring expenses) of approximately $18 million and $8 million, respectively. The purchase price was $46.5 million dollars funded with cash and additional borrowings.
"We are extremely pleased to be acquiring Weight Watchers of North Jersey from the Fein family, one of the earliest Weight Watchers franchisees," said ...