Shareholders Approve GNC Sale

Shareholders Approve GNC Sale

ZOETERMEER, The NetherlandsRoyalNumico reported Nov. 4 its shareholders approved of the divestment of GeneralNutrition Co. (GNC) to Apollo Management LP for $750 million. The transaction isexpected to close in 4Q03.

Meanwhile, the company reported Nov. 6 that for its thirdquarter (3Q03) GNC showed a positive sales trend of 7.7 percent, which thecompany accredited to GNCs remodeling efforts. This was the first positivegrowth GNC has experienced since 4Q01, despite the elimination of ephedra-basedproducts. Royal Numicos remaining businessesbaby food and clinicalnutritiondid well, with sales increasing 8.1 percent and 11.8 percent,respectively.