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North Castle Partners to Acquire Jenny Craig from Nestle

           North Castle Partners to Acquire Jenny Craig from Nestle

Jenny Craig to Be Combined with Curves International, Creating a One-of-a Kind
Wellness Company Offering Consumers Array of Diet and Fitness Tools to Meet
Individual Needs

Investment Extends North Castle's Presence in the Weight Management Industry

PR Newswire

GREENWICH, Conn., Nov. 7, 2013

GREENWICH, Conn., Nov. 7, 2013 /PRNewswire/ --North Castle Partners today
announced that it has entered into a definitive agreement to acquire Jenny
Craig, an iconic brand in the weight loss industry, from Nestle.North Castle
is a leading private equity firm focused exclusively on Health, Wellness and
Active Living companies. The terms of the investment, which is expected to
close later this month, were not disclosed.

"We are very excited to bring Jenny Craig into the North Castle family and to
continue its 30-year tradition of providing consumers with dedicated
one-on-one coaching and great tasting, clinically proven food to support their
weight loss goals.As a firm focused exclusively on consumer businesses that
promote Health, Wellness, and Active Living, we were able to draw upon
substantial experience from our current and prior investments in the weight
loss, nutrition and fitness industries to evaluate the Jenny Craig opportunity
and develop an investment plan that will revitalize the company," said Chip
Baird, North Castle's Founder and Managing Partner. 

North Castle will combine Jenny Craig with Curves International creating a
one-of-a kind wellness company that offers consumers an array of diet and
fitness tools to meet their individual needs. North Castle acquired Curves
International in August 2012.

"The Jenny Craig and Curves brands will continue to operate independently and
provide health, fitness and weight loss solutions to different consumer
segments," said Jon Canarick, North Castle Managing Director."We believe the
two brands give us a unique opportunity to meet the distinct needs of
consumers and provide an unmatched consumer value proposition."

Upon completion of the transaction, Monty Sharma, the current chief executive
officer of Curves, will become President and CEO of the combined Jenny Craig
and Curves business."I am excited to partner with North Castle in combining
these two iconic brands," said Mr. Sharma."When North Castle approached me
about potentially integrating Curves with Jenny Craig, I immediately
recognized that such a transaction would allow us to leverage the strengths
and resources of each of these businesses to enhance the experience and
results we provide to our members.Curves has made inroads into weight
management with our Curves Complete program, but putting Curves together with
Jenny Craig will bring our total business to a new level and allow us to offer
consumers all of the tools they need.Jenny Craig has volumes of science and
the best-trained coaches in the industry. I believe strongly in the
importance of a one-on-one coach for consumers on a weight loss journey and
that is something both brands offer today." 

In partnership with North Castle and Curves founders Gary and Diane Heavin,
Mr. Sharma has been executing a plan to revitalize the Curves brand under the
premise that Curves is uniquely positioned to offer both nutrition planning
and strength training – the two most critical components to long-term weight
loss success – under one roof.The revitalization of Curves is well underway
in its first year with the company planning to launch many new consumer-based
initiatives in the next few months. Among other things, Curves has taken
great steps to enhance its core fitness offering and, in a separate
announcement today, introduced a new partnership with Jillian Michaels, the
celebrity fitness trainer and health and wellness expert.Ms. Michaels is
designing group exercise programs to be done in the famous Curves circuit.

"We are very optimistic about the future of the combined company and will work
in partnership with management to leverage our knowledge and network across
the weight loss, nutrition and fitness industries from our current and prior
investments in Atkins, Equinox, World Health Club, EAS and Naked Juice,"
concluded Mr. Canarick.

ABOUT NORTH CASTLE PARTNERS
North Castle Partners is a leading private equity firm focused on investments
in consumer-driven product and service businesses that promote Health,
Wellness, and Active Living. North Castle is a hands-on, value-added investor
in high-growth, middle market companies in the (i) beauty & personal care,
(ii) consumer health, (iii) fitness, recreation & sports, (iv) home & leisure
and (v) nutrition sectors, among others. North Castle's current portfolio
includes such well-known brands as Curves International, Palladio Beauty
Group, Mineral Fusion, Red Door Spas, Performance Bicycles, World Health,
Octane Fitness, Ibex Outdoor Clothing, Contigo, and Flatout Flatbreads.

Prior portfolio company holdings include Atkins Nutritionals, Cascade Helmets,
Bora-Bora Organic Foods, gloProfessional, Equinox Fitness, EAS, Enzymatic
Therapy, CRC Health Group, Doctor's Dermatologic Formula, Naked Juice Company,
and Avalon Organics / Alba Botanicals.North Castle and its operating
executives and advisors partner with management to bring a wide range of
strategic and operational capabilities, as well as an extensive knowledge base
and network to build world-class companies.North Castle is headquartered in
Greenwich, CT.For more information, visit www.northcastlepartners.com.

ABOUT JENNY CRAIG
Jenny Craig's program is designed to help you manage your weight by creating a
healthy relationship with food, building a fun, active lifestyle and
developing a balanced approach to living. Our mantra is: Eat Well. Move More.
Live Life.

Our model is like no other weight loss company out there. Jenny provides a
weekly personal consultation that is tailored to you. We teach portion
control, provide motivational techniques for stressful situations like social
gatherings and dining out, and provide fun ways to incorporate daily activity.
Jenny's nutritionists work with food scientists to create more than 80
delicious Jenny's Cuisine™ menu items. Jenny's program is available in-center
and our at-home program, Jenny Craig At Home for easy access, whenever,
wherever!

Jenny Craig is one of the world's largest weight management companies, with
more than 600 company-owned and franchised centers in the United States,
France, Canada, Australia, New Zealand and Puerto Rico. Jenny Craig is
celebrating their 30th Birthday in 2013.

ABOUT CURVES
Curves International, Inc. is the largest chain of fitness centers for women
in the world and is famous for its 30-minute Circuit with a Coach that works
every major muscle group with strength training, cardio and stretching. With
Curves Complete, women have a fully integrated, personalized weight loss and
weight management solution that includes the Curves fitness program, a
customizable meal plan and one-on-one coaching and support. Backed by
extensive research, Curves Complete has been shown to reduce fat, increase
lean muscle, boost metabolism and help dieters lose weight and maintain weight
loss. Each Curves Complete Coach has completed a certification program
developed in conjunction with Cleveland Clinic, one of the most respected
hospitals in the country. Curves is committed to providing women with the
tools necessary to empower them to live more fulfilling lives. For more
information please visit curves.com.

Contact: Todd Fogarty
         Kekst and Company
         (212) 521-4854
         todd-fogarty@kekst.com

SOURCE North Castle Partners

Website: http://www.northcastlepartners.com
 
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