(Reuters) – China’s Bright Food Group Co is near a deal to buy U.S. vitamin retailer GNC Holdings Inc, giving the well-known foreign brand a potential entry to China to cater to the country’s growing middle class.

Under the deal being discussed, Bright Food would purchase GNC for $2.5 billion to $3billion, a source familiar with the situation said late on Monday in the United States.

The potential acquisition of Pittsburgh-based GNC, which is owned by Ares Management and the Ontario Teachers’ Pension Plan Board, could be announced in the next few days, said the source who declined to be identified because the talks were not public.

China has been aggressively snapping up overseas assets in the resources sector to feed its fast-growing economy, but a purchase of GNC marks a less common instance of a major acquisition in the U.S. consumer space by a Chinese company.


B.”EvilGenius”Chavez
www.EvilGSP.com

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