09.07.11
GNC Holdings, Inc, Pittsburgh, PA, has agreed to acquire LuckyVitamin.com, an online value-added retailer of a range of nationally branded nutritional supplements with a diverse selection of wellness-oriented products. The acquisition is being funded with cash on hand, and is expected to close subject to customary closing conditions. Terms of the deal were not disclosed.
Following the acquisition, GNC.com, GNC’s e-Commerce platform, and LuckyVitamin.com will continue to operate as separate businesses, each with its own product offerings and target customers.
“LuckyVitamin.com is a true Internet pioneer in the health and wellness industry and has built a strong online brand and business as a discount retailer," said Joe Fortunato, president and CEO of GNC. “LuckyVitamin.com creates a perfect opportunity for GNC to leverage our existing capabilities, provides synergies to strengthen the competitive position of LuckyVitamin.com and gain market share in the fast-growing discount e-Commerce channel. The addition of the LuckyVitamin.com platform greatly expands our reach and growth opportunities in the e-Commerce channel while broadening our customer demographics and product offerings online.”
Following the acquisition, GNC.com, GNC’s e-Commerce platform, and LuckyVitamin.com will continue to operate as separate businesses, each with its own product offerings and target customers.
“LuckyVitamin.com is a true Internet pioneer in the health and wellness industry and has built a strong online brand and business as a discount retailer," said Joe Fortunato, president and CEO of GNC. “LuckyVitamin.com creates a perfect opportunity for GNC to leverage our existing capabilities, provides synergies to strengthen the competitive position of LuckyVitamin.com and gain market share in the fast-growing discount e-Commerce channel. The addition of the LuckyVitamin.com platform greatly expands our reach and growth opportunities in the e-Commerce channel while broadening our customer demographics and product offerings online.”