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.
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.
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.
June 12, 1985
General Nutrition Corp., a Pittsburgh-based health-food retailer that is under a default judgment in U.S. District Court in Los Angeles, said a former supplier has filed court papers on the remaining issues of liability and damages. The supplier is seeking $5.3 million in damages, among other relief. GNC said it will challenge the damage amounts alleged.
CALIFORNIA | LOCAL
September 26, 2000 |
His company's stock traded last week at less than 20% of its initial offering price. The business just announced a $2.4-million loss for its second quarter. Even boosters agree his industry is in a growth slump. So why does Elliott Balbert look so hopeful and sound so energized? "We think we can compete," Balbert, chairman, chief executive and president of Natrol Inc., said in an interview. "We can prevail." That's not a small order.