GNC Announces Plans to Expand into Australia
PITTSBURGH, April 5, 2018 /PRNewswire/ -- General Nutrition Corporation (NYSE: GNC) today announced plans to establish and develop a presence in the Australian market.
Under a master franchise agreement, GNC will partner with Rapid Nutrition to market, sell and distribute GNC products through retail outlet expansion, e-commerce, and other potential distribution channels throughout Australia. In addition, Rapid Nutrition will be able to distribute its owned brands through the GNC global network.
"We are pleased to partner with one of the leading distributors of health and wellness products in Australia and believe this partnership will fuel our entry and expansion into the large Australian market," said Ken Martindale, chief executive officer of GNC. "Rapid Nutrition has an established presence in Australia and shares our commitment to advanced, high-quality products and ingredients."
According to Euromonitor, Australia's consumer health market was approximately $3.1 billion in 2017.
GNC Holdings, Inc. (NYSE: GNC) - Headquartered in Pittsburgh, PA - is a leading global specialty health, wellness and performance retailer.
GNC connects customers to their best selves by offering a premium assortment of heath, wellness and performance products, including protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. This assortment features proprietary GNC and nationally recognized third-party brands.
GNC's diversified, multi-channel business model generates revenue from product sales through company-owned retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce and corporate partnerships. As of December 31, 2017, GNC had approximately 9,000 locations, of which approximately 6,700 retail locations are in the United States (including approximately 2,400 Rite Aid franchise store-within-a-store locations) and franchise operations in approximately 50 countries.
About Rapid Nutrition
Rapid is a natural healthcare company focused on the research and development, manufacturing and distribution of weight-loss and diet management products, sports nutrition products, vitamins and dietary supplements and a range of life science products. The Company has registered products in and or exported its products to Australia, Asia, India, Europe, Middle East, Africa and the US.