Weird-Ass News: Nestle/Jenny Craig
Nestle to buy Jenny Craig for $600 million
VEVEY, Switzerland - In a twist in corporate synergy, chocolate-maker Nestle AG said Monday it will fatten up its weight-loss business by buying Jenny Craig Inc. for $600 million.
The acquisition follows Nestle's purchase for around $670 million last month of Uncle Tobys, an Australian maker of nutritional cereals and snacks, and is part of the company's "continuing commitment to nutrition, health and wellness," the Swiss company said in a statement.
While best known for its namesake chocolates, Nestle is the world's largest food and drinks company, making baby formulas, nutrition foods such as PowerBar, drinks to aid weight loss and the Lean Cuisine line. The company's purchase of Jenny Craig follows the lead of consumer products company Unilever, which bought both Ben & Jerry's ice cream and Slim Fast in 2000.
Weight management will become a new business within Nestle's nutrition unit and will reinforce its U.S. presence, the company said.
"With this strategic acquisition, the group takes another important step in its transformation process into a nutrition, health and wellness company," said Nestle Chairman and Chief Executive Peter Brabeck-Letmathe.
"The rise of obesity and the resulting metabolic disorders, such as diabetes and cardiovascular disease, is a major public health concern, not only in the USA but also the world over," Brabeck-Letmathe said.
VEVEY, Switzerland - In a twist in corporate synergy, chocolate-maker Nestle AG said Monday it will fatten up its weight-loss business by buying Jenny Craig Inc. for $600 million.
The acquisition follows Nestle's purchase for around $670 million last month of Uncle Tobys, an Australian maker of nutritional cereals and snacks, and is part of the company's "continuing commitment to nutrition, health and wellness," the Swiss company said in a statement.
While best known for its namesake chocolates, Nestle is the world's largest food and drinks company, making baby formulas, nutrition foods such as PowerBar, drinks to aid weight loss and the Lean Cuisine line. The company's purchase of Jenny Craig follows the lead of consumer products company Unilever, which bought both Ben & Jerry's ice cream and Slim Fast in 2000.
Weight management will become a new business within Nestle's nutrition unit and will reinforce its U.S. presence, the company said.
"With this strategic acquisition, the group takes another important step in its transformation process into a nutrition, health and wellness company," said Nestle Chairman and Chief Executive Peter Brabeck-Letmathe.
"The rise of obesity and the resulting metabolic disorders, such as diabetes and cardiovascular disease, is a major public health concern, not only in the USA but also the world over," Brabeck-Letmathe said.
posted by Tommie Closson at 10:32 AM
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