We change lives for a living.
Jenny Craig Enters Small Business Administration Hall of Fame
Company's Reinvigoration Attributed to SBIC Funding by New Owners
Carlsbad, CA, September 15, 2003 - Jenny Craig, Inc., one of the world's largest weight management companies, will be honored Friday when it is to receive the Small Business Administration (SBA) Fiftieth Anniversary Hall of Fame Award for its exceptional business achievements.
In May 2002, an investor group led by ACI Capital Co., Inc. and MidOcean Partners, and including Sid and Jenny Craig, acquired Jenny Craig, Inc. in a take-private transaction. Part of the ACI Capital investment in Jenny Craig came from their SBIC (Small Business Investment Company).
"Our investors recognized Jenny Craig as a company that addresses a serious health concern in the United States and that needed solid management support and focus to achieve its long-term growth objectives," said James Evans, Chief Executive Officer of Jenny Craig, Inc.
Kevin Penn, Managing Director of ACI Capital, reinforced, "With well over half of all Americans considered to be overweight or obese, and obesity related claims costing an estimated $100 billion annually, we realized that Jenny Craig not only possessed huge business growth potential, but that the company could also make a significant positive impact on the health of our nation. We also understood that by strengthening and expanding the company, Jenny Craig could create jobs in communities across the U.S."
According to Evans and Penn, the subsequent investment and strategic guidance has led to the completion of a leadership transition, implementation of a robust data and information platform, upgrade of current Centres, an expansion plan combined with the refinement of marketing approaches, enhanced training programs, greatly improved Client experiences and an expanded product assortment.
"The wealth of resources provided by ACI Capital and MidOcean Partners has already helped move the Company forward," concluded Evans, "The company now has what it takes to significantly increase its business over the next 24 months."
During a ceremony at which key employees and owners will be present, Jenny Craig, Inc. will be acknowledged for its outstanding business success. A Jenny Craig plaque will also be displayed at SBA's headquarters, along with those of other leading global businesses that are Hall of Fame inductees.
"The SBA is proud to have played a role in the revitalization of the Jenny Craig brand and rejuvenation of their business," said SBA Administrator Hector V. Barreto. "Teaching people how to lead healthier lives is a service to us all."
Currently, 646 Jenny Craig Centres operate in the United States, Canada, Australia, New Zealand and Puerto Rico.Return to the Jenny Craig Media Room
For media inquiries, please contact us at:
Kristi Roehm, Director of PR
Jenny Craig, Inc.
5770 Fleet Street, Carlsbad, CA 92008
8687 Melrose Ave., 8th Floor
Los Angeles, CA 90069
For advertising inquiries, please call 760-696-4195