Nestle (NSRGY) is looking to sell its Jenny Craig brand.
Three sources close to the matter claim that Nestle is working with Goldman Sachs (GS) to sell the diet brand. The company is currently in talks with several small groups about selling the Jenny Craig Brand. Both Nestle and Goldman Sachs refused to comment about the sale. The decision to sell off Jenny Craig is due to Nestle trying to trim off low-preforming brands. Some analyst suggest that the company could sell off its ice cream, frozen foods and water businesses as well. Nestle bought the Jenny Craig brand in 2006. The company purchased it from ACI Capital and MidOcean Partners for $600 million. The purchase allowed the food giant to move into the nutrition market and compete with Weight Watchers International (WTW), reports Reuters.
Nestle is also reportedly looking to sell off its PowerBar brand. The brand is expected to sell for several hundred million dollars. The company may also look at selling its Lean Cuisine frozen meals.