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Can you imagine a better candidate to form a partnership with Weight Watchers?
We couldn't either. So we were pleased to be asked by Oprah to structure the relationship.
In a nutshell, a cross-practice team of Loeb & Loeb attorneys represented the media icon in a groundbreaking strategic collaboration and brand partnership with Weight Watchers International Inc. As part of the five-year partnership, Oprah purchased newly issued shares of Weight Watchers representing a 10 percent equity stake - with an option to acquire another 5 percent - and she joined the board of directors.
Oprah wants to practice what she preaches. So not only will she serve as an active adviser in the development and execution of new program initiatives, she also joined the Weight Watchers program.
The deal was complicated. It was also executed with noteworthy speed and under heightened confidentiality. Loeb & Loeb quickly brought together the unique mix of entertainment, corporate, securities, branding,
intellectual property and business acumen needed to address all aspects of the transaction in a holistic and efficient manner.
The multifaceted agreement represents a strategic alignment of interests between Oprah and Weight Watchers, which is expanding its mission from focusing on weight loss alone to more broadly inspiring people to live healthier and more fulfilling lives.
A footnote that is perhaps a harbinger of success for the partnership: The Weight Watchers stock price doubled the day the deal was announced.
At Loeb & Loeb, we were happy to pull our weight to help make an exciting and innovative partnership happen.