Pankaj27. GNC
Headquarters: Pittsburgh, PA
Bought By: CITIC
Headquarters: Beijing
GNC has enjoyed a prime position in the health food market for decades. The company dates all the way back to 1935 but has faced its fair share of tough times over the past few years with steadily decreasing numbers. In 2018, Chinese company CITIC Capital bought 40% of GNC for $300 million.
The Harbin Pharmaceutical Group Holding Co. is the name behind the purchase, but they’re controlled by CITIC. They hoped the purchase would open up doors for a joint venture in China that’ would be beneficial to everyone involved. GNC was positive sales would be boosted in