An affiliate of private equity firm HIG Capital (HIG) has completed the acquisition of Craig Holdings, Inc (Jenny Craig), a specialist in the weight loss industry in North America, Australia and New Zealand.
Founded in 1983 and headquartered in Carlsbad, California, Jenny Craig offers personalised science-based meal plans, chef-crafted premium foods, and a dedicated consultant for each client to provide ongoing support and accountability. The Company’s Innovative Rapid Results Program uses Nobel Prize winning science involving the human body’s circadian rhythm to deliver weight loss and significant health benefits.
“HIG will enable Jenny Craig to continue successfully delivering our time-tested programs to millions of customers while expanding both our reach and breadth,” says Monty Sharma, Jenny Craig’s CEO. “We are very excited about the future of the Company and believe our clients and employees will benefit greatly from HIG’s support, allowing Jenny Craig to attain its next level of growth.”
“We believe Jenny Craig represents an ideal opportunity to invest in the premier provider of weight loss services, especially with the rising prevalence of overweight adults,” says Jeff Zanarini, Managing Director at HIG “Monty and the rest of the executive team will continue to lead the organisation through its next exciting phase of growth, and we look forward to working with Monty and his dynamic team.”