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Nestle is Buying Out Jenny Craig

One of the world?s best known female diet plan companies is being bought out by one of the world?s best known causes of the need to diet ? Nestle food company. Okay, so the chocolate isn?t exactly all that Switzerland-based Nestle is about. In fact, the Jenny Craig purchase is meant to add to Nestle?s credentials as an all-around food and nutrition company. Nestle has numerous breakfast-food sponsorship contracts around the world, in addition to its other, more sweet-toothed variety of offerings.

Jenny Craig products can be purchased in the U.S., Canada, Australia and New Zealand. The sale of Jenny Craig to Nestle is reportedly going down for a cool $600 million. According to Nestle, ?This acquisition will reinforce Nestle Nutrition`s presence in the United States of America, the world`s largest nutrition and weight management market,? Nestle said in a statement, with it going on to say that the deal ?would not dilute group earnings.?

Jenny Craig, Inc. was founded in 1983 by non-other than weight loss ?guru? Jenny Craig. Nestle bought California-based Jenny Craig from a private equity group, with members including ACI Capital and MidOcean Partners. Nestle is currently rated number one in Australia?s nutritious snacks market and number two in instant soups, courtesy of a relatively recent purchase of the Uncle Toby?s brand of snacks, breakfast cereals, and, of course, instant soups.