GNC Partners with Bright Food

SHANGHAIGeneral Nutrition Centers Inc. (GNC), a global retailer of nutritional products, entered into a memorandum of understanding to form a strategic partnership with Bright Food (Group) Co. Ltd. The partnership, GNC China, will participate in Chinas nutritional products market. Bright Food, a state-owned conglomerate in Chinas food industry, is a direct subsidiary of Shanghai Municipal government and the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government. Shanghai Yantang Group, a wholly owned subsidiary of Bright Food, will be responsible for undertaking the collaboration with GNC.

Based on our research on the nutrition industry in China, GNC believes there are significant growth opportunities in the PRC marketplace. We look forward to working with Bright Food, which has strong product, distribution and retail capabilities in China, said Joe Fortunato, chief executive of GNC.  Our partnership with Shanghai Yantang Group will lay a solid foundation for GNCs market entry into China. We believe Chinese consumers will bring GNC products into their daily lives and we hope to raise levels of health awareness in China.

The two companies expect to complete the formation of a joint venture and product launches by mid 2010. GNC China will promote the GNC brands in Chinas large to medium-sized cities and examine potential development opportunities in retailing, distribution and production when conditions permit.