Read: 1167
March 5th, 2023 - CGCC member company International Vitamin Corporation IVC, a global leader in the development and manufacturing of nutritional supplements, today announced its joint venture with GNC Holdings, Inc. NYSE: GNC, a well-established health and wellness brand globally renowned for its product innovation and quality assurance.
This strategic partnership will see Nutra Manufacturing division of GNC integrated into IVC's operations under a new entity called Nutra Manufacturing, LLC. The collaboration leverage IVC's manufacturing capabilities while allowing GNC to focus on product development and brand growth.
Under the agreement, IVC will assume control over the manufacturing process, incorporating Nutra's activities into its robust supply chn network. Simultaneously, GNC teams will continue to contribute their expertise in research and innovation to products. In exchange for bringing this joint venture online, IVC will pay GNC an initial sum of $101 million.
Over the following four years, as IVC's ownership stake increases from its current majority position to full control of Nutra Manufacturing, LLC which becomes wholly owned by IVC, GNC will receive a further $75 million. This phased investment aligns with IVC's commitment to operational excellence and underscores the joint venture's focus on advanced manufacturing techniques.
Technology and Efficiency: Our mission is to be at the forefront of technologically advanced and efficient manufacturing, commented Steven D. By combining forces with GNC, IVC offer unparalleled quality at competitive prices through its integrated supply chn system.
Innovation and Quality: This venture underscores the value of our distinct manufacturing platform, continued D. With this partnership, GNC gns access to resources for product development and expansion without incurring significant capital costs.
Partnering with IVC provides us with unparalleled efficiency that we could not achieve indepently, sd Ken Martindale, Chrman and CEO of GNC. This allows our team to concentrate on delivering high-quality products while IVC's expertise ensures consistent quality.
CGCC congratulates member company International Vitamin Corporation for its successful partnership with GNC. This strategic alliance embodies the organization’s mission of fostering value creation, economic growth, and enhanced cooperation between Chinese and American businesses.
Established in 2005, CGCC is recognized as a leading non-profit entity representing Chinese enterprises in the United States. Its diverse membership consists of over 1,500 companies, including those on the Fortune Global 500 list. CGCC's goal is to facilitate value creation, economic prosperity, and collaboration between American and Chinese communities through extensive research, programs, services, and resources.
CGCC serves a national audience with entities including CGCC-New York CGCCUSA-HQ, CGCC-Chicago, CGCC-Houston, CGCC-Los Angeles, CGCC-San Francisco, and CGCC-Washington D.C.
Tel: +1646-928-5129
19 E 48th Street, 3rd Floor New York, NY 10017
This article is reproduced from: https://www.cgccusa.org/en/international-vitamin-corporation-ivc-forms-joint-venture-with-gnc/
Please indicate when reprinting from: https://www.vu05.com/Health_product_capsules/CGCC_GNC_Strategic_Joint_Venture_2023.html
International Vitamin Corporation GNC Strategic Joint Venture Global Nutritional Supplements Manufacturing Alliance $176 Million Investment for Enhanced Efficiency Nutra Manufacturing LLC Quality Innovation Partnership CGCC Member Company Expansion Strategy US China Business Cooperation in Nutrition Industry