NEW YORK (AP) -- The Wall Street Journal is reporting that Chinese food company Bright Food Group Co. is nearing a deal to acquire GNC Holdings Inc. for up to $3 billion.
In its report late Monday, the newspaper cited unnamed people familiar with the matter.
The Journal says the deal for the U.S.-based vitamin retail chain is for between $2.5 billion and $3 billion.
The newspaper says Bright Food had until recently been pursuing a buyout of snack maker United Biscuits.
Asked about the report, GNC issued a statement saying it does not comment on rumors or market speculation.
The Pittsburgh-based company filed papers in September for a $350 million initial public offering.
Last year, GNC's net income totaled $69.5 million on $1.71 billion in revenue.
