GNC Close to a Buyout?

Bright Foods closing on bid for GNC

Bright Foods closing on bid for GNC

Shanghai’s biggest food and dairy company, the Bright Food Group, is said to be close to an agreement to buy U.S. vitamin retailer GNC, for around $3 billion dollars.

The purchase would give the company control of over 7,000 retail outlets around world selling vitamins, nutrition supplements and sports drinks.
Private equity firm Blackstone Group are also reported to be in talks to join the bid by for GNC. However, despite talks it is unclear whether Blackstone’s participation in the deal is likely to happen.

News of Bright Food’s bid for GNC first emerged earlier in the week, with sources saying talks were at an advanced stage and a deal could be announced within days.

The potential acquisition of Pittsburgh-based GNC, would follow a failed attempt by Bright Food to buy Britain’s United Buscuits for about $3.2 billion.

As an American citizen, living in the United States, I’m old school.

Call me old fashioned but we’ve sold out debt, we’re selling our resources and now we’re selling our business.

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-marc david

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One Response to "GNC Close to a Buyout?"

  1. Muscle Maker Heath:
    December 15, 2010 04:40 am

    All i can say is am in shock about this. First off, that a lot of money to give to purchase a brand basically. They must be dead serious about doing something with it. They wouldn’t pay that much unless they thought they would turn a decent profit on it.
    So they must have some serious plans on the way. I have never been to a GNC store before. So i really don’t know what i am missing seriously.

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