The San Diego County company said in a written statement that Craig died Monday at his home in Del Mar Calif. There was no announcement of funeral arrangements.

Craig, a former dance instructor, and his partner and wife, Jenny, formed Jenny Craig in Australia in the early 1980s, launching an enterprise that they would sell to Nestle in 2006 for $600 million.

The Craigs settled in the tony suburbs of San Diego in 1995 and became active philanthropists in the area.

Their largess built a new sports arena at the University of San Diego that was named after Jenny Craig. The business school at Fresno State was named after Sid Craig.