Jenny Craig Stock

Jenny Craig Office Stock Photos & Jenny Craig Office Stock Images in Jenny Craig Stock
Jenny Craig Office Stock Photos & Jenny Craig Office Stock Images in Jenny Craig Stock

Diet guru Jenny Craig Inc.. ( JCGI) agreed to be taken private for $5.30 a share at a leveraged buyout led by Deutsche Bank and ACI Capital.The transaction is worth 115 million and is being funded in part with senior debt given by Ableco Finance and debt and equity from Deutsche Bank’s private equity arm along with ACI Capital. The company’s founders, Sid and Jenny Craig, will contribute $4 million worth of inventory to the acquisition vehicle and”remain involved” with all the company.The price represents a 68% premium on Jenny Craig’s closing price Friday of $3.15.

The business trades on the over-the-counter bulletin board.The Craigs and their affiliates agreed to vote on their existing holdings of about 67 percent of the provider’s stock in favor of this transaction, which is anticipated to close in the second quarter of 2002. Jenny Craig has 652 weight-management facilities at the U. S., Canada and elsewhere. During the four quarters ended Sept. 30, 2001, it had $291 million in sales.Jenny Craig will keep its headquarters in Southern California and the present management team will continue to operate the business. Kent Kreh, the former chief executive director of Weight Watchers International, would be chairman.

Jenny Craig Weight Loss Clinic Exterior – Stock Editorial Photo pertaining to Jenny Craig Stock
Jenny Craig Weight Loss Clinic Exterior – Stock Editorial Photo pertaining to Jenny Craig Stock

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