Weight-loss brand Jenny Craig is seeking a buyer as its turnaround efforts start coming to fruition, the Wall Street Journal reported. The private equity-backed weight-management company hired investment bank Rothschild & Co. to explore strategic alternatives including a potential sale. Jenny Craig is projected to generate roughly $400 million of revenue and $35 million of earnings before interest, taxes, depreciation and amortization in 2018. The weight-management company revived its sales growth under its current backer, North Castle Partners, after the firm acquired the 35-year-old company from Nestlé SA in 2013. The consumer-focused private-equity firm brought in industry veteran Monty Sharma as the company’s new chief executive. Sharma has a track record of rebuilding consumer brands, including Naked Juice Co. and Atkins Nutritionals Inc. Five years later, North Castle is hoping that Jenny Craig’s improved performance will translate into a healthy exit of its investment.
