H.I.G. Capital ("H.I.G."), a global private equity investment firm with over $30 billion of equity capital under management, announced that one of its affiliates has completed the acquisition of Craig Holdings, Inc., a company operating in the weight loss industry in North America, Australia and New Zealand.
Founded in 1983 and headquartered in Carlsbad, Calif., Jenny Craig offers personalized science-based meal plans, chef-crafted premium foods, and a dedicated consultant for each client to provide ongoing support and accountability. The company’s Innovative Rapid Results Program uses Nobel Prize winning science involving the human body’s circadian rhythm to deliver weight loss and significant health benefits.
“H.I.G. will enable Jenny Craig to continue successfully delivering our time-tested programs to millions of customers while expanding both our reach and breadth,” said Monty Sharma, Jenny Craig’s CEO. “We are very excited about the future of the Company and believe our clients and employees will benefit greatly from H.I.G.’s support, allowing Jenny Craig to attain its next level of growth.”
“We believe Jenny Craig represents an ideal opportunity to invest in the premier provider of weight loss services, especially with the rising prevalence of overweight adults,” said Jeff Zanarini, Managing Director at H.I.G. “Monty and the rest of the executive team will continue to lead the organization through its next exciting phase of growth, and we look forward to working with Monty and his dynamic team.”