GNC Saved by $300 MILLION Cash Infusion from Chinese Company Harbin Pharma

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GNC Saved by $300 MILLION Cash Infusion from Chinese Company Harbin Pharma
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#1

WHOA!! GNC gets “saved” with 300 million infusion by a Chinese company!!!

http://uschinahpa.org/2018/02/harbin-pharma-invests-300-million-in-gnc/

Of note:

  • They now have 40% ownership of GNC
    • The above are NEW shares, meaning a HUGE dilution of US stock
  • Harbin has 5 of 11 seats on the board (there used to be just 6 board members)
  • They’ll probably sell lots of “GNC-Branded” stuff in China now

This should give them at least another year of life as they know it.

News courtesy Bruce Kneller, who we see at PP headquarters in less than ONE week for an exclusive interview!!!

My real question is… are they really wanting GNC, or do they want GNC’s real estate?!?! Chinese individuals and companies have been making crazy land grabs lately. But Bruce says they want the brand name and nothing else.


#2

You may want to put million in the title. :stuck_out_tongue:


#3

Crazy. I didn’t even know GNC was struggling.


#4

They closed over 250 stores last year. Probably going to rise this year.


#5

Damn. When I was there (2-3 years ago) there was a big push to open tons of new stores. I kinda wonder if they did that too fast.


#6

I’m meeting up with my old boss tomorrow, the founder of Myokem. He is/was a RSD for GNC. I’ll be sure to ask him what’s up with GNC.


#7

Ask him we’re they been, Myokem was quite last year.


#8

He sold the company a few years ago, not sure how much he’ll know


#9

Sad. Myokem was solid. I never got a chance to try their stuff. I wanted to get some nitramine but I couldn’t budget for it a year or so ago when I was looking at it.

Hopefully an RSD would know something!


#10

2/16 Quick stock raise… Sell & Run …

4/29 Gnc closing over 800 stores nationwide… lol talk about taking money & running


#11

They’ve been struggling for while, last thin I heard over a year ago was they had already shut down a total of 1000 locations, and that cake from a corporate e-mail when I was with the company. I mean hell, the owner fired the CEO and took over. Unless it was a bunk email, that’s what was sent to us all