Source: LOHAS Weekly Newsletter
Published: Wednesday, May 15, 2002

Jenny Craig Inc.'s (ticker: JCGI.OB) shareholders have approved the weight loss company's pending acquisition by an investor group whose primary members are ACI Capital Co. Inc. and DB Capital Partners. ACI is a New York-based private investment firm; DB Capital is the private equity arm of Germany-based Deutsche Bank. Company founders Sid and Jenny Craig will retain ownership interest. Each share of JCGI.OB stock will be exchanged for $5.30 cash as part of the deal that was expected to close on May 14. The stock closed at $5.30 on May 14.

“The transaction will keep control of Jenny Craig with experienced investors who are committed to working with management and helping grow the business. Our employees and executives are all very excited to begin this new chapter,” stated Sid Craig in a company announcement.