GNC plans $350 million IPO
Pittsburgh GNC Acquisition Holdings said it plans to launch an initial public stock offering that could raise up to $350 million for the company.
In a filing with the Securities & Exchange Commission, the company said that its plans include increasing store square footage, expanding internationally and improving its e-commerce business. According to reports, GNC wants to add at least 4,800 company-owned and franchised locations to its U.S. store base.
GNC was publicly traded from 1993 until 1999 and has had several ownership changes since then. Two previous attempts to sell stock, including one in 2006, were canceled.