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GNC To Enter Australia
GNC has announced plans to enter the Australia. Under a franchise agreement, GNC will partner with Rapid Nutrition to market, sell and distribute GNC products through retail outlet expansion, e-commerce, and other potential distribution channels throughout Australia. In addition, Rapid Nutrition will be able to distribute its owned brands through the GNC global network. Interesting collaboration!
Ken Martindale, CEO 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.”
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.”
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. Rapid Nutrition exports a range of products including the Leisa’s Secret® products which include meal replacement shakes, high potency energy boosting tablets, weight loss tablets and an appetite suppressant powder. Their other brand SystemLS™ includes a variety of high protein shakes, high fibre bars, organic multivitamins, fat burning shots and super grain granola cereal.
SOURCE: Rapid Nutriton & PR Newswire