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