I hope this dosent mean that my favorite foods from Jenny Craig are going to stop being made. I will die without my chicken fajitas and chocolate cake! But just maybe this means that finally they can start to make some seriously good chocolates!
Jenny Craig Finds Buyer In Brabeck-Letmathe's Nestle A good omen? As far as we know, Peter Brabeck-Letmathe is not in league with the devil. But he is the chairman and chief executive of Nestlé, whose announcement on Monday might have struck some as slightly diabolical: The Vaud, Switzerland, conglomerate announced it is buying Jenny Craig for $600 million. But we urge the trepidatious to read on: What you learn might drastically alter your beliefs--in a good way. Sure, the first thing you think of when you hear "Nestlé" is the dark goddess, chocolate: the sweet, irresistible temptress that elevates the mood--and expands the waistline. And of course, Jenny Craig is in the worldwide business of helping people carve off unwanted bulk. Led by CEO Patti Larchet, the "classroom" company offers education, prepared foods and phone support as part of a full way of life to health-seekers.
Owned jointly by ACI Capital and Deutsche Bank's (nyse: DB - news - people ) private equity arm, it holds its own against lifestyle rivals Weight Watchers International (nyse: WTW - news - people ), NutriSystem (nasdaq: NTRI - news - people ) and Unilever (nyse: UN - news - people ) subsidiary Slim-Fast Foods. So why might this combo be less sinister than it sounds? Because Nestlé made its name in the U.S. with its rich treats, but the global giant consists of a complex of businesses, feeding the four-legged set via its Ralston Purina unit and serving pasta, tea and coffee. It also owns more than 25% of cosmetic giant L'Oréal. And Nestlé is active in the health care sector, owning some 75% of ophthalmic drug and surgical equipment maker Alcon (nyse: ACL - news - people ). And even more pertinent, it owns the Lean Cuisine ready-made meals line and acquired the Uncle Toby's healthy cereal and treats business in Australia--where Jenny Craig does a bang-up trade. Thus, Brabeck-Letmathe said in a statement that, "with this strategic acquisition, the [Nestlé] group takes another important step in its transformation process into a nutrition, health and wellness company." So hold the holy water and stifle the Mephistophelian pipe-organ toccata: Nestlé is using its corporate clout for good, not...evil. -- Greg Levine
