M&A Deal Summary

Nestlé Acquires Jenny Craig

On June 19, 2006, Nestlé acquired consumer services company Jenny Craig from MidOcean Partners and ACI Capital for 600M USD

Acquisition Highlights
  • This is Nestlé’s 1st transaction in the Consumer Services sector.
  • This is Nestlé’s 8th largest (disclosed) transaction.
  • This is Nestlé’s 4th transaction in the United States.
  • This is Nestlé’s 2nd transaction in California.
Investment Fate
  • Jenny Craig was divested to a consortium of buyers in 2013.
  • Jenny Craig was sold to a consortium of financial buyers in 2019.

M&A Deal Summary

Date 2006-06-19
Target Jenny Craig
Sector Consumer Services
Buyer(s) Nestlé
Sellers(s) MidOcean Partners
ACI Capital
Deal Type Add-on Acquisition
Deal Value 600M USD
Advisor(s) Goldman Sachs (Financial)

Target

Jenny Craig

Carlsbad, California, United States
website
Jenny Craig is a weight management services company. The Company provides consumers with a comprehensive weight management program that emphasizes personal support to help clients develop a healthy relationship with food, build an active lifestyle, and create a more balanced approach to living. Jenny Craig was founded in 1983 and is based in Carlsbad, California.

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Buyer(S) 1

Buyer

Nestlé

Vevey, Switzerland

website


Category Company
Founded 1866
Sector Food
Employees276,000
Revenue 92.9B CHF (2019)
DESCRIPTION

Nestlé is a large food, beverage, and consumer products company. The Company has more than 2000 brands amongst its portfolio and operates globally. Nestlé was originally established in 1866 and is based in Vevey, Switzerland.


DEAL STATS #
Overall 5 of 21
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 5 of 15
State (California) 2 of 4
Country (United States) 4 of 14
Year (2006) 1 of 1
Size (of disclosed) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Mont Blanc S.A.S.

Chef Du Pont, France

Mont Blanc S.A.S. is a producer of food products. Mont Blanc was founded in 1917 and is based in Chef Du Pont, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-19 Vitality Beverages

Tampa, Florida, United States

Vitality Beverages, Inc., headquartered in Tampa, Florida, is a leading provider of beverage solutions to the foodservice industry worldwide. What sets Vitality apart is its ability to provide foodservice operators with complete beverage programs including innovative dispensing equipment, a wide assortment of beverages, beverage sales experts, and a dedicated service network. Foodservice operators have counted on Vitality to help them serve top quality beverages including juices, teas, coffees, cocktail and smoothie mixes, innovative specialty drinks and much more.

Buy -

Seller(S) 2

SELLER

MidOcean Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MidOcean Partners is a private equity firm focused on acquiring controlling interests in middle-market companies throughout North America. The Firm has a preference for consumer and business services sectors including automotive, food/beverage, retail, consumer products, information services, infrastructure services, training and more. MidOcean seeks opportunities valued between $150 and $750 million where it can commit $75 to $300 million. In addition to investing equity, MidOcean also looks to provide flexible credit solutions as well. MidOcean Partners was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 7 of 34
Sector (Consumer Services) 1 of 2
Type (Add-on Acquisition) 4 of 18
State (California) 1 of 5
Country (United States) 6 of 29
Year (2006) 2 of 4
Size (of disclosed) 9 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-12 Palace Entertainment

Newport Beach, California, United States

One of the largest operators of waterparks and family entertainment centers in the United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-25 United Biscuits

Middlesex, United Kingdom

United Biscuits is a European manufacturer and marketer of biscuits, snacks and nut products including major brands such as McVitie's Digestive, Penguin, Jaffa Cakes, Go Ahead! KP, Hula Hoops, Skips, BN, Verkade and Delacre.

Sell $3.5B
SELLER

ACI Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 1995
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ACI Capital is a private investment firm that targets investments in mid-sized companies. ACI primarily looks for US based businesses with revenues between $25 and $500 million and operating profits of at least $5 million. ACI prefers control investments and will consider a variety of investment structures including buyouts, restructurings, growth capital financings, recapitalizations, PIPEs, secondary purchases, and bridge financings. Sectors of interest include consumer (consumer products, direct marketing, restaurants, franchising, healthy living), industrial (niche manufacturing, transportation, infrastructure, alternative energy), and services (business services, healthcare services, financial services, logistics, media). ACI Capital was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 5 of 9
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (California) 2 of 2
Country (United States) 5 of 9
Year (2006) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-02 VUTEk

Meredith, New Hampshire, United States

VUTEk, Inc. is a manufacturer of superwide format digital printers for the global outdoor advertising industry.

Sell $281M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Hollywood Tans Brands

Sewell, New Jersey, United States

Hollywood Tans is a franchisor of indoor tanning salons in the U.S. Each Hollywood Tans salon offers a range of UV and UV-free (spray) tanning services as well as a proprietary line of pre- and post-tanning lotions.

Buy -