GNC corp has a variety of nutraceutical products
November 27 2015 by Ray Sahelian, M.D.
GNC is one of the largest vitamin companies in the world and the stores can be found in malls most everywhere. This nutraceutical firm has thousands of stores across the country and overseas, and also operates a web site where a number of herbal products, vitamins and minerals, along with protein powders, and over the counter hormones are sold.
2006 - GNC Corp., which sells vitamins, minerals and specialty supplements, withdrew its initial public offering citing rocky market conditions, according to a spokesman. "The market has not been very receptive to new issues in the last few weeks," said Ben Pratt, Director of Corporate Communications for the company. The 23.53 million share offering, which represented a 39 percent stake in the company, was scheduled to price within a forecast range of $16 to $18 per share. If priced at the midpoint, the IPO would have been worth about $400 million. GNC Corp, a Pittsburgh-based company, planned to use proceeds from the offering to redeem preferred stock, for working capital and general corporate purposes, according to an amended filing with the U.S. Securities and Exchange Commission. Merrill Lynch & Co., Lehman Brothers and UBS Investment Bank were the lead underwriters for the GNC Corp offering.