NEW YORK, May 10, 2023 (GLOBE NEWSWIRE) — WW International, Inc. (NASDAQ: WW) (“WeightWatchers,” “WW,” or the “Company”) today announced its former controlling shareholder Artal Group S.A. (“Artal”) has sold its remaining minority stake in the Company in a Rule 144 block trade. Artal purchased the Company in 1999 from Heinz and maintained a controlling interest from its initial public offering in 2001 through 2018.
“WeightWatchers is a remarkable company with a rich history touching the lives of millions of people around the world,” said Ray Debbane, CEO of Artal and Chairman of the Board of WW from 1999 until May 8, 2023. “We have been privileged to have overseen and participated in the Company’s development over the past 24 years, which is one of the longest holdings in our 38 year history. The new Chairman Thilo Semmelbauer, CEO Sima Sistani and the rest of the WeightWatchers leadership team have my full confidence as they evolve the business. I am excited to see what the next chapter brings.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About WW International, Inc.
WeightWatchers is a human-centric technology company powered by our proven, science-based, clinically effective weight loss and weight management program. For six decades, we have inspired millions of people to adopt healthy habits for real life. We combine technology and community to help members reach and sustain their goals on our program. To learn more about the WeightWatchers approach to healthy living, please visit ww.com. For more information about our global business, visit our corporate website at corporate.ww.com.
About Artal and Invus
Artal, with its exclusive investment advisor Invus, is a global equity investment firm with an evergreen capital structure, operating out of offices in the U.S., Europe and Asia. Since its founding in 1985, Invus has focused on empowering entrepreneurs and entrepreneurial teams to transform their industries across both public and private equity investments.
For more information, contact:
Investors:
Corey Kinger
corey.kinger@ww.com
Media:
Kelsey Merkel
kelsey.merkel@ww.com
