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Nestlé has sold its weight management business Jenny Craig in North America and Oceania to a US-based private equity group North Castle Partners. The Jenny Craig business in France is not part of the transaction. The new owners will take over the businesses and offer employment to Jenny Craig staff in North America and Oceania.
North Castle Partners is a Connecticut-based US private equity firm that invests in businesses that promote health, wellness, and active living. Jenny Craig was founded in 1983 and offers consumers weight management programmes tailored to their needs. It has been part of Nestlé nutrition since 2006.
The transaction is subject to customary closing conditions and the financial details will not be disclosed.