Jenny Craig has weight management centers in 138 locations across the United States and Puerto Rico. The company also has centers in Australia, Canada and New Zealand. Jenny Craig is a diet service that markets a plan of meals based on its own foods that are prepared and packaged for the customer. The company also provides motivational help.
Origins
Jenny Craig was named after one of the co-founders. It started as a fitness company in the 1960s when its namesake was trying to lose weight from a pregnancy. She started a gym in New Orleans but then joined the Body Contour fitness center in the 1970s. This center was run by Sid Craig, whom Jenny married in 1979. They turned their business into a thriving company that reportedly earned more than $30 million in sales by 1982.
Growth
By 1987, Jenny Craig Inc. had more than 40 locations across the United States and more than 100 locations in foreign countries. The company started seeking capital from outside investors. Michael Tennenbaum, the chairman of an investment bank, brought together a handful of investors, and together the group invested $50 million in the company. Jenny Craig then got two additional bank loans for $50 million more. The company now had the money it needed to expand.
Mail Orders
By 1993, Jenny Craig had 794 total outlets. The company decided to grow even further by allowing customers to order products over the telephone and receive their orders through the mail. At the end of 1993, Jenny Craig's total revenues were more than $490 million, 6 percent higher than in 1992.
Change of Mission
At the end of 1998, Jenny Craig Inc. welcomed a new president, Philip Voluck. Voluck had experience with another diet company, NutriSystem. Jenny Craig and her husband continued to work for their company as chairmen. In 1999 the company changed its mission from weight loss to complete self-improvement. This new change brought forth products such as food supplements and a new line of exercise equipment. The company also changed the food program, making the plan cheaper for customers.
New Ownership
In May 2002, Jenny Craig Inc. was bought by MidOcean, a New York investment firm, then was sold in 2006 to Nestle Corp. for $600 million. In the summer of 2008, Sid Craig passed away, leaving Jenny Craig as the sole chairman of the company. The company now has more than 550 locations worldwide.
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