GNC Announces Completion of Acquisition by Apollo Management.Business Editors PITTSBURGH--(BUSINESS WIRE)--Dec. 5, 2003 General Nutrition Companies, Inc. (GNC GNC General Nutrition Centers GNC Gas Natural Comprimido (Argentina) GNC Guidance, Navigation, and Control GNC Grand National Championship (ATV racing) GNC Global Navigation Chart ) announced today that Apollo Management Apollo Management L.P. is a private equity L.P. firm, founded in 1990 by Leon Black (Apollo Advisors). Based in New York, it also has offices in Los Angeles and London. It has invested over $16 billion in companies inside and outside the of the United States. , L.P. has successfully completed its previously announced acquisition of GNC from Royal Numico N.V. "This is a great day for GNC," said Lou Mancini, GNC's president and chief executive officer. "We believe that the Apollo acquisition will benefit the entire company, from our manufacturing, distribution and retail operations to our employees and franchise operators. Apollo made this investment because it sees tremendous value in the power of the GNC brand. We look forward to working closely with Apollo and leveraging their expertise in retailing as we take the company to the next level." General Nutrition Companies, Inc. (GNC), based in Pittsburgh, PA, is the largest global specialty retailer of nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. , which include sports nutrition Sports nutrition is applied in most sports training, however it is most dominant in strength sports (for example weight lifting and bodybuilding) and endurance sports (for example cycling, running, triathlon). products, diet products, VMHS VMHS Vista Murrieta High School (California) VMHS Valhalla Middle High School VMHS Vitamins Mineral Herbal Supplements (vitamin, mineral and herbal supplements) and specialty supplements. GNC operates more than 5,000 retail locations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , including over 1,300 domestic franchise locations, and locations in over 30 foreign markets including Canada and Mexico. Apollo Management, L.P., founded in 1990, is among the most active and successful private investment firms in the U.S. in terms of both number of investment transactions completed and aggregate dollars invested. Since its inception, Apollo has managed the investment of an aggregate of approximately $13 billion in equity capital in a wide variety of industries, both domestically and internationally. |
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