Region. Nestle takeover of Jenny Craig

The chocolatier and multinational food company, Nestle, said it would acquire at an undisclosed price, all shares of the group that controls the Jenny Craig franchise in New Zealand and Australia. The weight-loss company was founded in Australia in 1983 and has five outlets in Western Sydney. The acquisition next month will complete Nestle's takeover of Jenny Craig, a process which began in 2006 with the US$600 million buy-out of its international arm. Australian and New Zealand Jenny Craig operations would report to the Jenny Craig global headquarters in California, USA, and the new structure would not require redundancies.