Nestle sells part of Jenny Craig to private equity firm

ZURICH Thu Nov 7, 2013 1:24am EST

ZURICH Nov 7 (Reuters) - The world's biggest food group Nestle said on Thursday it was selling its Jenny Craig weight management businesses in North America and Oceania to private equity firm North Castle Partners for an undisclosed sum.

The Jenny Craig business in France is not part of the transaction, Nestle said in a statement, adding the new owners will take over the businesses and offer employment to Jenny Craig staff in North America and Oceania.

Reuters reported last month that Nestle was looking to sell the business as part of a larger drive to divest underperforming businesses.

(Reporting by Silke Koltrowitz)

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