China’s Global Investment Ambitions Highlighted By Bright Food’s Bid To Acquire GNC

In an example of China’s growing ambitions in the global mergers and acquisitions market, reports indicate that one of the country’s largest food and beverage companies, state-owned Bright Food, is set to acquire US vitamin and supplement retail chain GNC Holdings for US$2-3 billion dollars. Bright Food operates 3,300 grocery outlets in China, specializing in novelty food, and had recently been in talks to acquire United Biscuits. GNC has some 7,100 stores. If it goes ahead, the acquisition is part of a wider pattern of government-backed Chinese corporations aggressively pursuing international investment opportunities.