CORRECTING and REPLACING Rite Aid and GNC Announce Extension of Partnership Through 2021
PITTSBURGH & CAMP HILL, Pa.--(BUSINESS WIRE)--Mar 7, 2019--Please replace the release dated February 19, 2019 with the following corrected version due to multiple revisions.
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RITE AID AND GNC ANNOUNCE EXTENSION OF PARTNERSHIP THROUGH 2021
Rite Aid Corporation (NYSE: RAD), one of the nation’s leading drugstore chains, and GNC (NYSE: GNC), a leading global specialty retailer of health and wellness products, announced today an agreement which extends their partnership through 2021. Rite Aid and GNC have had an exclusive partnership in the chain drug channel since December 1998.
“Our more than 20-year partnership with GNC has provided Rite Aid with a key point of differentiation in the marketplace while strengthening our reputation as a health and wellness destination for our customers,” said Bill Renz, Rite Aid senior vice president of category management. “We’re pleased to extend our partnership and continue offering the highly popular GNC products our customers know and trust as we also focus on launching innovative GNC brands in our stores throughout the coming year.”
There are approximately 2,200 GNC store-within-a-store locations operating in Rite Aid bannered stores nationwide, including a majority of Rite Aid’s wellness stores.
“Our GNC brand has benefitted tremendously from being prominently featured at Rite Aid stores throughout the country,” said Allen McClard, GNC senior vice president and chief merchandising officer. “As a global brand that helps people live well, we share Rite Aid’s commitment to meeting the unique health and wellness needs of our customers. We look forward to working together to continue meeting these needs while collaborating to drive further innovation at Rite Aid stores.”
Rite Aid Corporation (NYSE: RAD) is one of the nation’s leading drugstore chains with fiscal 2018 annual revenues of $21.5 billion. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at www.riteaid.com.
GNC Holdings, Inc. (NYSE: GNC) is a global health and wellness brand that helps people live well. The company is known and trusted for quality performance and nutritional supplements, and its broad assortment features innovative private-label products as well as national recognized third-party brands, many of which are exclusive to GNC.
GNC’s diversified, multi-channel business model has global reach and a well-recognized, trusted brand, and provides customers with excellent service, product knowledge and solutions. The company reaches consumers worldwide through company-owned retail locations, and domestic and international activities, and e-commerce. GNC also has exceptional innovation and product development capabilities, manufactures products for third parties and generates revenue through corporate partnerships. As of September 30, 2018, GNC had approximately 8,500 locations, of which approximately 6,400 retail locations are in the United States (including approximately 2,200 Rite Aid bannered store-within-a-store locations) and operations in approximately 50 countries.
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CONTACT: Rite Aid
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: CONVENIENCE STORE HEALTH FITNESS & NUTRITION PHARMACEUTICAL RETAIL SPECIALTY MEDICAL SUPPLIES GENERAL HEALTH
SOURCE: Rite Aid Corporation and GNC
Copyright Business Wire 2019.
PUB: 03/07/2019 04:15 PM/DISC: 03/07/2019 04:15 PM