Pittsburgh based GNC Holdings may by up for sale. The Wall Street Journal is reporting that Chinese food company Bright Food Group Co. is nearing a deal to acquire GNC. People familiar with the matter tells the paper the deal for the international vitamin retail chain is for between $2.5 billion and $3 billion. If the sale goes through it would be the largest takeover of a US Firm by a Chinese company. GNC says it does not comment on rumors or speculation.
Last year, GNC's net income totaled $69.5 million on $1.71 billion in revenue. It filed papers in September for a $350 million initial public offering.