Global food and drinks manufacturer Nestle is to sell its diet and weight management business Jenny Craig to US-based private equity group North Castle Partners.
Jenny Craig supplies diet and fitness programmes that can be tailored to suit the consumer’s needs and has been part of the Nestle group since 2006. North Castle Partners is a consumer private equity firm that is orientated around health, well being and active living and will take over and offer employment to staff in Australia and North America.
North Castle will combine the acquisition with current business at Curves International, a similar weight management programme.
“Curves has made inroads into weight management with our Curves Complete program, but putting Curves together with Jenny Craig will bring our total business to a new level and allow us to offer consumers all of the tools they need,” said Monty Sharm, Chief Executive of Curves international America.
The divestment of the Jenny Craig brand in Australasia and North America will not the affect Jenny Craig business in France, Nestle said.
Source: Australian Food News