Nestle sells its Jenny Craig businesses in North America and Oceania to private equity firm North Castle Partners for undisclosed sum
November 7, 2013
– Nestlé divests Jenny Craig businesses in North America and Oceania to North Castle Partners
North Castle Partners: a leading private equity firm that invests in high-growth, middle market businesses
Financial details of the transaction not disclosed
Nestlé today announced it 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.