Nutrisystem Swallows Up Weight Loss Competitor South Beach Diet for $15M | NBC 10 Philadelphia

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Nutrisystem Swallows Up Weight Loss Competitor South Beach Diet for $15M

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    NEWSLETTERS

    AP

    Philadelphia area-based weight-loss company Nutrisystem is buying the South Beach Diet brand for $15 million.

    Arthur Agatston, the Florida cardiologist who created the South Beach Diet and wrote the best-selling book by the same name in 2003, will join Nutrisystem's science advisory board after its acquisition from SBD Holdings Group Corp.

    Marcos del Mazo/LightRocket via Getty Images

    More than 23 million copies of the South Beach brand's books are in print. Nutrisystem says it will expand that reach further through a meal-delivery program.

    Nutrisystem, based outside in Fort Washington, Pennsylvania, says the acquisition may dilute earnings slightly next year as it prepares for a relaunch of the South Beach Diet in 2017.