Who currently owns GNC?
Harbin Pharmaceutical GroupGNC is getting a reboot after its Chapter 11 last year and acquisition by its largest investor, Harbin Pharmaceutical Group. Harbin bought a major stake in GNC in 2018, helping to ease the company's debt load, leftover in part from multiple private equity acquisitions during the 2000s.
Is GNC owned by the Chinese?
18, 2020 6:23 p.m. 18, 2020 6:23 p.m. GNC Holdings Inc., the Pittsburgh-based international health and wellness chain, has been for sold for $770 million to a Chinese pharmaceutical firm in a deal approved Thursday in bankruptcy court in Delaware.
Who bought GNC in 2020?
Harbin Pharmaceutical Group Holding Co.September 2020 + Harbin Pharmaceutical Group Holding Co. In mid-September GNC Holdings Inc., a Pittsburgh-based international health and wellness chain, sold to Harbin Pharmaceutical Group Holding Co., based in China, for $770 million. The transaction was approved in bankruptcy court.
Are GNC independently owned?
GNC's goal is to have half its U.S. stores be franchises in three to four years. Less than a quarter of its 4,700 domestic stores were independently owned and operated as of the end of last year.
Who manufactures GNC?
Nutra Manufacturing is the manufacturing division of General Nutrition Centers (GNC), the largest global specialty retailer of nutritional products; including vitamin, mineral, herbal, sports nutrition, and diet and energy products.
What happened GNC stock?
GNC Holdings filed bankruptcy on June 23, 2020. Harbin Pharmaceuticals, a large shareholder, submitted a "stalking horse bid" for the company as part of the filing. Shares were delisted and moved to the "pink sheets" where value has slowly decayed awaiting bankruptcy settlement. The common is now trading below $0.15.
Is GNC going out of business 2020?
CALIFORNIA — GNC filed for bankruptcy, and announced plans to close 27 California stores and between 800 to 1,200 stores nationwide. The closures come after the Pittsburgh-based health supplement giant struggled financially for years, working to pay off debt, GNC said in a statement on its website.
Why is GNC stock so low?
GNC's top-line decline was driven by a combination of strategic store closures and a 0.6% decline in domestic same-store sales.
Are GNC products made in the USA?
The supplements manufacturing business of GNC now operates two facilities, one in Greenville, SC with 320,000 square feet and one in Anderson, SC totalling 630,000 square feet of production and warehousing.
Did Walmart buy GNC?
Select GNC products will be sold at Walmart stores and on the retailing giant's website under terms of a new agreement, the Downtown vitamin and health supplements company announced Monday.
How much does it cost to buy a GNC?
How much does GNC Store franchise cost? GNC Store has the franchise fee of up to $40,000, with total initial investment range of $180,504 to $347,270.
How much does it cost to open a GNC?
GNC Franchise Costs & FeesName of FeeLowHighMiscellaneous Opening Costs$3,000$4,000Rent/Leasehold Space$967$18,334Additional Funds—3 months$10,000$30,000ESTIMATED TOTAL (for a new franchise store)$153,758$380,17314 more rows