International Vitamin Corporation’s Joint Venture with GNC Holdings, Inc.


Sidley advised International Vitamin Corporation on the deal

International Vitamin Corporation (IVC), a world leading nutritional supplement manufacturer has formed a joint venture with GNC Holdings, Inc. (NYSE: GNC), a leading global health and wellness brand, to integrate GNC’s Nutra manufacturing division into IVC’s operations. Nutra will be known as Nutra Manufacturing, LLC.

Under the joint venture agreement, IVC will assume control of manufacturing and integrate into GNC’s supply chain, while GNC teams will continue to support product development and innovation. Under the terms of the agreement, GNC will receive $101 million from IVC in exchange for an initial majority ownership in the joint venture. Over the next four years, GNC will receive an additional $75 million from IVC as IVC’s ownership of the joint venture increases to 100% and Nutra Manufacturing, LLC becomes wholly owned by IVC.

The Sidley team was led by Century City M&A partner, David Grinberg (Picture), supported by Los Angeles Restructuring partner Christina Craige with additional support from lawyers from Sidley’s Century City, Chicago, Los Angeles and Washington, D.C. offices.

Involved fees earner: Maria Abesa – Sidley Austin LLP; Douglas Axel – Sidley Austin LLP; Justin Becker – Sidley Austin LLP; Patrick Casey – Sidley Austin LLP; Christina Craige – Sidley Austin LLP; Katharine Falahee Newman – Sidley Austin LLP; David Grinberg – Sidley Austin LLP; Kenneth Kansa – Sidley Austin LLP; James Kunick – Sidley Austin LLP; Kelvin Le – Sidley Austin LLP; Ellen Lebow – Sidley Austin LLP; William McConagha – Sidley Austin LLP; Diane McEnroe – Sidley Austin LLP; James Mendenhall – Sidley Austin LLP; Mitchell Poole – Sidley Austin LLP; Edwin Norris – Sidley Austin LLP; Richard Petretti – Sidley Austin LLP; Christian Pilhofer – Sidley Austin LLP; Judith Praitis – Sidley Austin LLP; Marc Raven – Sidley Austin LLP; Benjamin Rosemergy – Sidley Austin LLP; Jamie Sadler – Sidley Austin LLP; Leslie Shubert – Sidley Austin LLP; Susan Stolzer – Sidley Austin LLP; Lori Trujillo – Sidley Austin LLP; Jim Warczak – Sidley Austin LLP; Jonathan Westreich – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: International Vitamin Corporation;

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Author: Ambrogio Visconti