GNC agrees to acquire LuckyVitamin.com

GNC Holdings, Inc. (NYSE: GNC), a leading global specialty retailer of nutritional products, today announced it has agreed to acquire LuckyVitamin.com, a leading online value-added retailer of a wide 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 within 30 days, subject to customary closing conditions.

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."

"Having GNC as a parent company represents an important step in LuckyVitamin.com's evolution as a major online retailer of more than 30,000 quality national brand products," said Sam Wolf, CEO of LuckyVitamin.com.  "Leveraging GNC's critical mass in manufacturing, distribution, purchasing power and product development will be valuable tools as we continue to develop the business and realize the expanded growth prospects it presents."

"This acquisition will allow us to participate in the online nutritional discount market without compromising our GNC Live Well brand or the market positioning of our successful GNC.com business," said Jeffrey R. Hennion, GNC's Executive Vice President and Chief Marketing Officer & e-Commerce. "The combination of GNC.com's premium branding, content and product assortment with LuckyVitamin.com's competitive offering, best-in-class functionality and customer service advances GNC's position in the e-Commerce channel and leverages the strengths of both companies."

"We are also pleased that company founders Sam Wolf and Gary Wolf have agreed to continue on in their roles, overseeing the LuckyVitamin.com business as part of the broader GNC e-Commerce team," said Hennion.