(VEVEY, Switzerland) — Nestle has agreed to sell its Jenny Craig businesses in North America and Oceana to a private equity firm in Connecticut.
The Swiss food company announced Thursday that North Castle Partners purchased the weight management business for an undisclosed amount in a transaction that will impact Jenny Craig operations in North America, Australia, New Zealand, and other areas of the Pacific. The sale will not affect Jenny Craig businesses operating in France.
Nestle, which took ownership of the popular weight loss company for $600 million in 2006, said Thursday that New Castle will offer employment to all Jenny Craig staff impacted by the sale. The Connecticut-based firm plans to combine Jenny Craig with Curves International, a fitness club franchise tailored to women, The Wall Street Journal reports.
Copyright 2013 ABC News Radio
John Newsome and Anne Woolsey, CNN