Curves International, Waco, TX, and its parent company, North Castle Partners, recently made two announcements involving two well-known names in the weight loss and fitness industries.
North Castle Partners, the Greenwich, CT-based private equity firm that acquired Curves in 2012, entered into an agreement to acquire weight management company Jenny Craig from Nestle. The terms of the deal, which is expected to close later this month, were not disclosed, North Castle said in a press release.
Once the acquisition is complete, Monty Sharma, the current CEO of Curves, will become president and CEO of the combined Jenny Craig and Curves business.
"The Jenny Craig and Curves brands will continue to operate independently and provide health, fitness and weight loss solutions to different consumer segments," Jon Canarick, North Castle Managing Director, told Club Industry. "We will look to leverage the strengths and resources of each of these businesses to enhance the experience and results we provide to consumers."
Jenny Craig is headquartered in Carlsbad, CA, and its 200 employees will remain there, the San Diego Union-Tribune reported. The company was founded in 1983 in Melbourne, Australia, and moved to Carlsbad two years later.
The price of the Jenny Craig acquisition will likely be less than the approximately $600 million that Nestle paid in 2006, analysts told Bloomberg.
Curves also announced it has formed a partnership with Jillian Michaels of "The Biggest Loser" fame and will launch Curves Workouts with Jillian Michaels in 2014. The program will include 12 new functional movements introduced each month throughout the year.
"I am so thrilled to be partnered with Curves to provide women with the tools necessary to take control of their health," Michaels said in a press release. "Curves is everywhere—so now my program is accessible, effective and affordable."
The Curves Workouts with Jillian Michaels are designed for women at every fitness level and will include modifications for each movement, the company said. Metabolic conditioning exercises will be done in between each strength machine within the Curves Circuit during a 30-minute class.
Curves says that it plans to launch other new programs next year.