GNC Holdings, LLC (abbreviated GNC; alternatively General Nutrition Centers) is a retail company based in Pittsburgh, Pennsylvania. It specializes in health and nutrition related products, including vitamins, supplements, minerals, herbs, sports nutrition, diet, and energy products.
In 2020, Harbin Pharmaceutical Group, a Chinese state-owned pharmaceutical manufacturer, acquired the company.
History
In 1935, David Shakarian opened a small health food store, Lackzoom, in downtown Pittsburgh. He made US$35 on his first day and was able to open a second store within six months. A year later, Shakarian suffered from what appeared to be a fatal blow when the Ohio River flooded into downtown on St. Patrick's Day. Both of his stores were wiped out. But he opened a new store the next year and later began a mail-order business, shipping health foods and later vitamins and prescription drugs throughout the country. Major expansion began in the 1960s. Shakarian said the physical fitness movement, anxiety about smoking and the growth shopping centers brought success to his business venture.
In the 1960s, the company changed the name of its stores to General Nutrition Centers. Shakarian stepped down as chief executive officer in February 1984 but continued as chairman until his death later that year.
Shakarian took GNC public (listed on the NYSE) in the 1980s. Gary Daum was named chief executive office in February 1984. In May 1985, Jerry Horn took on the role. GNC was taken private and sold to Thomas H. Lee Partners a PE investment/management fund in the late 1980s. Thomas Lee ran GNC and took it public prior to selling the company to Royal Dutch Numico and Numico acquired GNC in 1999; it sold GNC to Apollo Management in 2003. Ontario Teachers' Pension Plan and Ares Management bought GNC in 2007. GNC went public in 2011.In 1990, the company considered relocating but a public/private effort retained GNC headquarters in Downtown Pittsburgh.
In 2018, the Chinese state-owned Harbin Pharmaceutical Group agreed to acquire an approximately 40% stake in GNC. In September 2020, Senator Marco Rubio asked the Committee on Foreign Investment in the United States to examine the proposed acquisition on data protection and national security grounds.
In November 2018, the company announced they would be closing up to 900 stores over 3 years. In July 2019, it was announced that they planned to close up to 1,400 company owned retail locations, primarily those located within shopping malls.
In June 2020, GNC filed for Chapter 11 bankruptcy protection and indicated plans to close at least 800 stores. Effective on June 30, 2020, the stock was delisted from the New York Stock Exchange and shifted to the OTC Markets Group. In September 2020, the bankruptcy court in Delaware approved the sale of GNC for $770 million to Harbin Pharmaceutical Group.
The company emerged from the Chapter 11 process under the new ownership of Harbin Pharmaceutical Group in October 2020. In 2021, GNC revealed that Josh Burris will take over as CEO and Cam Lawrence as CFO.
In 2021, GNC announced a partnership with Walmart for a selection of GNC specific products.
Retail and Online Stores
GNC stores typically stock a wide range of weight loss, bodybuilding, nutritional supplements, vitamins, natural remedies, and health and beauty products, in both its owned brands as well as third-party brands. Its products are also sold on GNC.com and, as of January 2017, on GNC's Amazon Marketplace.
On December 31, 2018, GNC had approximately 8,400 locations, of which approximately 6,200 were in the United States (including approximately 2,200 Rite Aid licensed store-within-a-store locations), as well as franchise operations in approximately 50 countries.
Of GNC's approximately 4,100 U.S. locations in 2019, 61% were in strip malls and 28% were in larger malls.
In July 2023, the company announced it would begin making deliveries in select markets via drone.