P.E. Firm Bulks Up Weight-Loss Business

Nov 8 2013 | 11:00am ET

Nestlé is looking to slim down, and private-equity firm North Castle Partners is only too happy to help.

The Swiss food company, perhaps best known for its chocolate, bought Jenny Craig, the weight-loss company, seven years ago from two other p.e. firms, ACI Capital Group and MidOcean Partners. Now, it is selling most of the company to North Castle, which already owns weight-loss company Curves.

North Castle plans to merge the two businesses, placing Curves CEO Monty Sharma at the helm of the combined company.

"We are very excited to bring Jenny Craig into the North Castle family and to continue its 30-year tradition of providing consumers with dedicated one-on-one coaching and great-tasting, clinically-proven food to support their weight-loss goals," North Castle founder Charles Baird said.

The deal includes the Jenny Craig brand in North America and the Asia-Pacific region, but not in France. Terms were not disclosed.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...