Oprah Winfrey will bring “her unique ability to connect people to live their best lives” through a major investment in Weight Watchers, the company announced Monday.
Winfrey is taking a 10% stake in the weight loss company for approximately $43.2 million, according to the Associated Press. She will also have the option to buy an additional 5% of the company.
"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."
Weight Watchers announced that Winfrey will “candidly share her experiences and perspective” as well as bring insight and strategy to program development.
"We are expanding our purpose from focusing on weight loss alone to more broadly helping people lead a healthier, happier life," President and CEO of Weight Watchers Jim Chambers said in a press release. "Through our conversations, it became clear that there is tremendous alignment between Oprah's intention and our mission. We believe that her remarkable ability to connect and inspire people to realize their full potential is uniquely complementary to our powerful community, extraordinary coaches and proven approach."
Weight Watchers has struggled to gain back customers and new members and has recently worked to target the millennial generation. The stock is down 72% in the past year, according to the Wall Street Journal.