GNC Credit, Herbalife Q4, Industry Summit: Health And Wellness News
This article was originally published in The Rose Sheet
Executive Summary
GNC approaches closing $300m Hayao investment with lenders' OK to re-work loans; Herbalife back to sales growth and prepares for management changes; and CFSAN's Education Resource Library is accessible as a catalog of nearly 300 publications and videos.
You may also be interested in...
Herbalife Turning A New Leaf While An Old Opponent Folds His Tent
Direct seller Herbalife has a new capital allocation strategy and will ask shareholders for a new name and two-for-one split of its stock. It also has lost an old opponent as hedge fund manager and activist investor William Ackman sheds his investment that would have paid off if Herbalife had gone under.
GNC's New Partner Brings China Access And Funding, Takes Board Seats
As GNC reports substantially trimming its net losses in its 2017 fourth-quarter and full-year results, it announces Harbin Pharmaceutical will invest around $300m in GNC, becoming the single largest shareholder, and the two firms will form a JV for manufacturing, marketing and distributing GNC-branded products in China. With the investment, GNC's board expands from six to 11 members, comprising GNC CEO Ken Martindale, five appointed by Harbin and five by GNC.
Herbalife CEO Plans Exit With FTC-Required Changes Underway
The firm with independent distributors selling nutritional and weight loss products around the world reports third-quarter net income of $87.7m, off 6.3% from the year-ago quarter.