Rite Aid, GNC announce extension of existing partnership through 2019; agreement enables Rite Aid to add at least 300 additional GNC LiveWell store-within-a-store locations inside its stores over next five years
December 20, 2013
– 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 and expands their existing partnership through 2019. The agreement enables Rite Aid to add at least 300 additional GNC LiveWell store-within-a-store locations inside its stores over the next five years. Rite Aid and GNC have had an exclusive partnership in the chain drug channel since December 1998.
"Rite Aid's strategic partnership with GNC is a point of differentiation, both in the chain drug industry and with our customers," said Ken Martindale, Rite Aid president and chief operating officer. "With the extension of our retail agreement with GNC, we will be able to continue bringing our customers the outstanding lineup of highly popular GNC products they trust while delivering on our mission of helping our customers meet their unique health and wellness needs."
As of Dec. 19, there are more than 2,200 GNC stores-within-a-store operating in Rite Aid stores across the country, including a majority of Rite Aid wellness stores.
"Rite Aid has long been an important part of GNC's growth strategy, serving as an invaluable partner as we've worked to grow our brand," said Tom Dowd, GNC executive vice president, chief merchandising officer and general manager. "As a leading global specialty retailer of vitamins, minerals, and herbal supplement products, sports nutrition products and diet products, GNC shares Rite Aid's commitment to improving the health and wellness of its customers. We look forward to working together to bring our successful 'store-within-a-store' to more Rite Aid pharmacies over the next five years, making it easier than ever for people to live well."