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.


In Depth

Electronifie: Better Bond Trading

May 11 2016 | 3:03pm ET

Technology has revolutionized countless aspects of investing and trading, but the...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...