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GNC acquisition closed

This article was originally published in The Tan Sheet

Executive Summary

Apollo Management completes acquisition of GNC from Royal Numico Dec. 5. "Apollo made this investment because it sees tremendous power in the GNC brand," GNC CEO Lou Mancini said in a statement. "We look forward to working closely with Apollo and leveraging their expertise in retailing as we take the company to the next level." Royal Numico announced the sale of GNC to the New York-based holding firm in October (1"The Tan Sheet" Oct. 20, 2003, p. 15). GNC also recently entered an agreement with NSF International to evaluate and certify the firm's branded products...
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