Rapid Nutrition PLC
(“Rapid Nutrition” or “the Company”)
Rapid Nutrition, a natural healthcare company focused on the research and development, manufacturing and distribution of weight-loss and diet management products, sports nutrition products, vitamins and dietary supplements and a range of life science products is pleased it secured an exclusive Master Distribution Agreement (the “Agreement”) with General Nutrition Corporation (“GNC”) one of the world’s leading global speciality, health, wellness and performance retailer listed on the New York Stock Exchange (NYSE: GNC).
The Company has been granted the exclusive right to market, sell and distribute GNC products in Australia through multiple channels including retail stores, e-commerce and other third-party retailers. The Agreement has an initial term of five years and can be renewed by the Company for up to two further five-year terms subject to the Company having satisfied the terms of the Agreement.
In addition, Rapid Nutrition will add GNC products to its offering of health and wellness supplements.
Benefits of the Agreement
The Agreement enables Rapid Nutrition to expand its product offering in the Australian market with one of the largest and most respected companies in the industry
Additional revenue streams will be created for the Company by partnering with GNC and establishing its brands in Australia
Rapid Nutrition will be able to distribute its own brands through the GNC global network creating an additional source of revenue
GNC has more than 9,000 locations worldwide, including presence in the US and more than 50 international countries. GNC is the creator of sub-brands including Beyond Raw®, Mega Men®, Pro Performance® Amp and Total Lean™. For the year ended 31 December 2017, GNC generated revenues of US$2.45 billion.
Simon St. Ledger, Chairman of Rapid Nutrition said:
“We are delighted to be partnering with GNC, a world leader in our industry. The partnership is a strong testament to our ability and agility as a business and our portfolio of high-quality, natural wellness products. The partnership will enable us to create additional revenue streams, open up opportunities in new markets and accelerate our growth. We look forward to working with GNC and increasing our presence in Australia’s consumer health market which was valued at approximately US$3.1 billion in 2017.”
Ken Martindale, Chief Executive Officer of GNC said:
"We are pleased to partner with one of the leading distributors of health and wellness products in Australia and believe this partnership will fuel our entry and expansion into the large Australian market," said Ken Martindale, chief executive officer of GNC. "Rapid Nutrition has an established presence in Australia and shares our commitment to advanced, high-quality products and ingredients.”
Rapid Nutrition Plc
+ 61 (0)7 3200 4222
About Rapid Nutrition
Rapid is a natural healthcare company focused on the research and development, manufacturing and distribution of weight-loss and diet management products, sports nutrition products, vitamins and dietary supplements and a range of life science products. The Company has registered products in and or exported its products to Australia, Asia, India, Europe, Middle East, Africa and the US.
GNC Holdings, Inc. (NYSE: GNC) - Headquartered in Pittsburgh, PA - is a leading global specialty health, wellness and performance retailer.
GNC connects customers to their best selves by offering a premium assortment of heath, wellness and performance products, including protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. This assortment features proprietary GNC and nationally recognized third-party brands.
GNC's diversified, multi-channel business model generates revenue from product sales through company-owned retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce and corporate partnerships. As of December 31, 2017, GNC had approximately 9,000 locations, of which approximately 6,700 retail locations are in the United States (including approximately 2,400 Rite Aid franchise store-within-a-store locations) and franchise operations in approximately 50 countries.