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It Finally Happened! Nestle Waives Goodbye to Most of Jenny Craig

 (image source: markaritchie)

As I mentioned in a previous blog about Nestle looking to divest from Jenny Craig, well today Nestle took a huge step in that direction. Nestle SA (VTX:NESN) will sale a large chunk of its interest in Jenny Craig to private equity firm North Castle Partners LLP.  North Castle Partners is heavily focused on the health and wellness sectors. No financial details of the deal were released. The deal involves Jenny Craig’s business operations in Australia, New Zealand, and North America. But the French operations of Jenny Craig will still be a part of Nestle. North Castle Partners already owns Curve International, a fitness and weight-loss company for women. After the deal is finalized, North Castle Partners will combine the two diet businesses. Jenney Craig has been underperforming for Nestle since its acquisition in 2006.