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Ares Management, Teachers' to acquire GNC from Apollo09/02/2007. Source: AltAssets. 
 Ares Management and the Ontario Teachers' Pension Plan have agreed to acquire Pittsburgh, Pennsylvania-headquartered GNC Parent Corporation, the parent company of General Nutrition Centers, from Apollo Management. The total enterprise value of the transaction is $1.65bn.
GNC is a large specialty retailer of nutritional products, vitamin, mineral, herbal and other specialty supplements and sports nutrition, diet and energy products. The company has 4,800 retail locations throughout the US and franchise operations in 46 international markets. For the 12 months ending 30 September 2006, the company generated sales of approximately $1.5bn.
Apollo acquired GNC from Dutch baby food manufacturer Numico for $750m in 2003.
Jim Leech, senior vice president of Teachers' Private Capital, said, 'The opportunity to acquire GNC, a leading retailer of health and wellness products, complements our growing portfolio of consumer brands. We are excited to work with the company's strong management team and Ares Management to continue to grow the brand.'
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