Jenny Craig draws hefty price from Nestle

VEVEY, Switzerland, June 19 (UPI) -- Switzerland's Nestle SA said Monday it and its partners will pay about $600 million to buy weight-loss company Jenny Craig.

Nestle and its partners, ACI Capital and MidOcean Partners, will retain the current management of Jenny Craig, which was founded in 1983.

The Jenny Craig acquisition follows the recent acquisition of the Uncle Toby's cereals and nutritional snacks business in Australia.