Thursday, February 15, 2018

Chinese firm buys big stake in GNC

Chain Store Age

Chain Store Age

GNC, which has been working to turnaround its business, has entered into a strategic partnership and joint venture with a leading pharmaceutical company in China.

Harbin Pharmaceutical Group Holding Co. (“Hayao”) will invest approximately $300 million in GNC, becoming the single largest shareholder in the U.S. vitamins and supplements retailer. Hayao will own approximately 40% of the company’s stock.. . . more

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