Nestle to Buy Jenny Craig to Enter Weight-Loss Market
June 19 (Bloomberg) — Nestle SA, the world’s biggest food producer, agreed to buy Jenny Craig Inc. for about $600 million to enter the weight-loss market and add to its nutrition, health and wellness business.
Vevey, Switzerland-based Nestle will buy La Jolla, California-based Jenny Craig from a private equity group including ACI Capital Co. Inc. and MidOcean Partners, Nestle said in a statement on its Web site today. The purchase won’t dilute Nestle’s earnings, it said.
Chief Executive Officer Peter Brabeck, 61, has acquired makers of healthy snacks and nutrient-enriched foods. Nestle in May agreed to buy the Uncle Tobys cereal, soups and snacks brand from Burns Philp & Co. to acquire more healthy foods in Australia.
“The rise of obesity and the resulting metabolic disorders, such as diabetes and cardiovascular disease, is a major public health concern,” Brabeck said in the statement. “The Jenny Craig acquisition puts us in a privileged position to help many of our customers.”
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