Nestlé to Buy Jenny Craig for Five Times Its 2002 Price

21 June 2006

VEVEY, SWITZERLAND - Yet again private equity firms have made a killing, selling on Australian diet foods company Jenny Craig for around $600 million (A$813.6m; €477.06m; £326.1) to Nestlé - five times the price paid by ACI Capital and MidOcean Partners in 2002.

Nestlé said weight management will form a new part of its nutrition business, a high-margin area that already provides infant, health care and performance nutrition.

Said the Swiss food titan: "This acquisition will also reinforce Nestlé Nutrition's presence in the USA, the world's largest nutrition and weight management market."