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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) October 14, 1999
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Balance Bar Company
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(Exact name of registrant as specified in its charter)
Delaware 000-24007 77-0306617
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Idenification No.)
1015 Mark Avenue
Carpinteria, California 93013
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(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (805) 566-0234
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Item 5. Other Events.
On October 14, 1999, Balance Bar Company and Jenny Craig, Inc. issued a
press release announcing a new trademark license agreement and the launch of a
new product line of five flavors of nutritional meal bars.
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits. The following exhibit is filed as part of the Current
Report on Form 8-K:
99 Press release dated October 14, 1999 regarding the
trademark license agreement between Balance Bar Company
and Jenny Craig, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BALANCE BAR COMPANY
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(Registrant)
Date: October 14, 1999 By: /s/ Thomas J. Flahie
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Thomas J. Flahie
Senior Vice President of Finance and
Administration
(Principal Financial and Accounting Officer)
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EXHIBIT INDEX
Exhibit Description Page
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99 Press Release dated October 14, 1999 1
regarding the trademark license agreement between
Balance Bar Company and Jenny Craig, Inc.
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FOR IMMEDIATE RELEASE
CONTACTS: Investors: Media:
Tom Flahie Charlotte Norrie
Balance Bar Company Balance Bar Company
805-566-0234 x1106 805-566-0234 x1120
BALANCE BAR COMPANY AND JENNY CRAIG, INC. ANNOUNCE
NEW JENNY CRAIG(R) DIET BARS
Leading Nutritional Foods Marketer Chosen to Develop First
Jenny Craig Food Products to be Sold at Retail
CARPINTERIA, Calif. and LA JOLLA, Calif. - October 14, 1999 - Balance Bar
Company (NASDAQ: BBAR) and Jenny Craig, Inc. (NYSE: JC) today announced the
launch of a new line of nutritional meal bars that will take the well-known
Jenny Craig brand, for the first time, to retail food shelves.
Marketed under the Jenny Craig brand name, this line of diet bars has
been developed and will be sold nationally by Balance Bar Company. Prior to
this introduction, all Jenny Craig food products were available only to clients
enrolled in Jenny Craig's weight management program and on the Internet.
A leader in the energy bar category, Balance Bar Company is making its
first foray into the fast-growing weight loss product arena. "We're bringing
our expertise in creating great-tasting, nutritious products loved by Balance
Bar fans to consumers looking for the same in a diet product," said Jim Wolfe,
Balance Bar Company President and CEO. "As an energy bar marketer, it makes
sense for us to participate in the weight loss category. The diet/nutrition bar
segment has grown 63 percent1 in the last year."
"Balance Bar Company is the ideal partner to help Jenny Craig, Inc.
invigorate interest in our core business by leveraging our brand into new
distribution channels," said Philip Voluck, Jenny Craig Chief Operating Officer.
"Balance Bar Company knows what people want in a nutrition product, and they
know how to provide it in a high-quality, great-tasting format. Their skills at
marketing nutrition products are evident in their rapid growth."
1 Source: Information Resources, Inc. 52 Weeks Ending August 29, 1999 total U.S.
food, drug, mass combined.
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Jenny Craig nutritional meal bars are a natural, great-tasting and
satisfying way to lose weight and feel good. High in quality protein and
calcium, and containing 24 vitamins and 100 percent RDI of antioxidant vitamins
A, C and E, the Jenny Craig bar line features five flavors under 220 calories
each: milk chocolate, chocolate peanut, yogurt peanut, oatmeal raisin and lemon
meringue. A percentage of the proceeds of every bar sold will go to breast
cancer research.
Jenny Craig bars can be used as a meal replacement or snack by "do-it-
yourself" dieters planning their own reduced-calorie menus and exercise programs
and are not part of the weight management program offered at Jenny Craig
Centres.
"When we made the decision to pursue the diet category, we looked for
a partner that commanded the respect of consumers and that offered a quality
program to help them manage their weight," Wolfe explained. "With the powerful
Jenny Craig brand name, Jenny Craig bars have immediate consumer recognition
that typically requires a substantial investment in time and money."
Balance Bar Company will use its established distribution network to
bring the Jenny Craig brand to market, offering retailers a one-stop shop for
bar products either under the Balance(R) or Jenny Craig brand names.
Jenny Craig bars will be premiered at the Balance Bar Company booth at
the Natural Products Expo East trade show in Baltimore, Maryland on October 22-
24.
Balance Bar Company has licensed Jenny Craig trademarks for a 20-year
period with extension options for an additional 30 years to sell nutrition bars,
ready-to-drink and powdered drink mix beverages, and nutritional cookies for all
distribution channels except Jenny Craig Centres. Balance Bar Company is
committed to a license fee and minimum levels of advertising and marketing costs
for the products sold under the agreement. Balance Bar Company expects these
marketing support vehicles to exceed the profit contribution from sales levels
in the intermediate term in an effort to build consumer awareness, trial and
acceptance of the Jenny Craig nutritional meal bars.
Balance Bar Company develops and markets branded nutritional food and
beverage products. Its two brands are: Balance - Balance nutrition bars
(Balance Bars, Balance+(TM) and Balance Outdoor(TM)), 40-30-30 Balance(TM)
powdered drink mixes and Total Balance(TM) ready-to-drink nutritional beverages;
and Jenny Craig - Jenny Craig Nutritional Meal Bars.
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Jenny Craig, Inc. is one of the largest weight management service
companies in the world. It offers a comprehensive weight management program
that helps clients learn how to eat the foods they want, increase their energy
level through simple activity and build more balance in their lives for optimal
weight loss and well-being. The program includes personal, one-on-one
consultations at approximately 750 Jenny Craig Centres located in the United
States, Canada, Australia, New Zealand and Puerto Rico.
For more information visit www.jennygo.com. or www.balance.com.
This press release contains forward-looking statements made under the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995. A
number of risks and uncertainties could cause actual results to differ
materially from those in the forward-looking statements. These risks include
risks associated with developing and selling new products (such as creating
consumer trial and obtaining consumer acceptance of the products), anticipating
changes in dietary trends, avoiding adverse publicity, maintaining sales to
significant customers and other risk factors. For a more detailed description
of the risk factors facing Balance Bar Company and Jenny Craig, Inc., please
refer to each company's Annual Report on Form 10-K.
