October 18, 2003 |
Dutch food group Numico said Friday it had agreed to sell its GNC chain stores to buyout fund Apollo Management for $750 million, beating a retreat from a costly foray into the U.S. health supplements market. Europe's largest maker of baby formula, which paid $1.8 billion for the largest U.S. retailer of vitamins, minerals and herbal supplements in 1999, said it would use the proceeds to slash its looming debt pile.
July 6, 1999 |
Dutch food maker Royal Numico is acquiring General Nutrition Cos., a leading producer of vitamins and other nutritional supplements, for $1.75 billion in cash. The deal, under which Royal Numico would also assume roughly $760 million in debt, would create what the two companies called the largest firm in the world devoted exclusively to nutrition. The purchase would give Numico access to the biggest distribution network for nutritional products in the U.S.
June 23, 1999 |
Drugstore operator Rite Aid Corp. and General Nutrition Cos., a specialty-vitamin retailer, said they will buy stakes in Drugstore.com Inc. as part of a 10-year agreement to sell their products on the World Wide Web. Rite Aid agreed to invest $7.6 million for 25.3% of Drugstore.com, a closely held online retailer of health-care products. General Nutrition will pay $2.4 million for 8%. Drugstore.
April 29, 1994 |
General Nutrition Inc. agreed Thursday to pay $2.4 million in civil penalties to settle charges by the Federal Trade Commission that the vitamin and food supplement retailer violated terms of two previous agreements with the agency. "This is the largest civil penalty for violating an advertising order in the commission's history," said Christian White, acting director of the FTC's Bureau of Consumer Protection.
August 11, 1998 |
General Nutrition Centers has agreed to sell a cholesterol product, PhytoQuest, that is manufactured by SeQuester Holdings Inc. in Westlake Village. SeQuester officials said negotiations are continuing with GNC. PhytoQuest, a dietary supplement that the company said will reduce cholesterol, already is due to be sold by Wal-Mart in most of its 2,300 stores.
May 3, 2003 |
General Nutrition Cos., the largest U.S. chain of vitamin stores, plans to stop selling products containing ephedra, an herb used for weight loss that has been linked to heart and stomach problems. Any unsold supply will be removed from stores by the end of June, GNC said. Royal Numico, the Netherlands-based parent of GNC and vitamin maker Rexall Sundown, said it has set aside $18 million to write off leftover inventory.