You can now add Weight Watchers to Oprah Winfrey’s extensive portfolio. USA Today reported that the mogul has purchased 10% percent stake in Weight Watchers International and the move has sent the stock soaring.
Winfrey, who is also getting options to acquire an additional 5% stake, is joining the Weight Watchers board after a positive personal experience with the company’s weight-loss program.
Weight Watchers (WTW) concurrently announced an expansion of its brand beyond a pure focus on weight loss to a general emphasis on healthier, happier living.
Investors flocked to Weight Watchers shares in the wake of the news, sending the stock up 53% in pre-market trading to $10.36 on Monday morning. Winfrey bought her shares at $6.79 for a total investment of $43.2 million, according to a Securities and Exchange Commission filing.”
In a released statement, Winfrey said, “Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for,” Winfrey said in a statement. “I believe in the program so much I decided to invest in the company and partner in its evolution.”
Read the complete story and what CEO Jim Chambers had to say about her involvement, here.