ShareThis Page
Business Headlines

Chinese company Hayao to become largest GNC investor

| Tuesday, Feb. 13, 2018, 10:54 a.m.
This Thursday, Jan. 12, 2017, file photo shows a sign at GNC's world headquarters in Pittsburgh.
This Thursday, Jan. 12, 2017, file photo shows a sign at GNC's world headquarters in Pittsburgh.

A Chinese pharmaceutical company is poised to become the largest shareholder in GNC Holdings Inc., the Pittsburgh company said.

Under the terms of the agreement, announced Tuesday, Harbin Pharmaceutical Group Holding Co. Ltd., which goes by the name Hayao, will invest $300 million in GNC.

GNC and Hayao will form a joint venture to manufacture, market, sell and distribute GNC-branded products in China.

“As a recognized leader in China, Hayao is an ideal partner as we look to leverage the strength of the GNC brand and to capitalize on the demand for nutritional supplements in China,” Ken Martindale, GNC's CEO, said in a statement.

The deal is scheduled to close during the second half of this year. GNC's board of directors will be expanded to include five members from Hayao.

Suzanne Elliott is a Tribune-Review staff writer. She can be reached at 412-871-2346 or Twitter@41Suzanne.

TribLIVE commenting policy

You are solely responsible for your comments and by using you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.

click me