GNC Holdings (NYSE: GNC) acquired A1 Sports Limited in the U.K., which operates as Discounts Supplements. A1 is the leading sports nutrition e-commerce retailer in the U.K., according to GNC.
GNC did not disclose terms of the cash acquisition, but did say that GNC.com, Discount-supplements.co.uk, and LuckyVitamin.com, will continue to operate as separate businesses.
"Entering the U.K. and other key European and Scandinavian markets are core elements of our strategic plan to expand GNC's global reach," Joe Fortunato, chairman, president and CEO of GNC, said in a company statement. The U.K. sports nutrition market is estimated to be worth £300 million and has demonstrated consistent double-digit growth, according to Fortunato.
Plus, the U.K.'s sports nutrition online channel has captured nearly one-third of the sports nutrition market share, and is growing faster than the market overall, Fortunato said.
GNC continues to deliver strong year-over-year results, in part because its web businesses are growing its top and bottom line. In its most recent second fiscal quarter, the company reported a revenue increase of 9.2 percent to $619.1 million.