New York City-based Apollo acquired GNC from Dutch nutrition company Royal Numico in December 2003 for $750 million. GNC then filed a registration statement with the SEC in May 2004 to go public, but the retailer did not end up trading on public markets.

Of locally-based GNC's 4,800 US locations, 1,000 are franchised and 1,200 are within Rite Aid drug stores. It also has franchise operations in 46 countries. In 2006, the company reported an 11.1% year-over-year, same-store sales increase for company-owned stores, and a 5.7% jump in franchise-operated units.

Los Angeles-based Ares Management controls an $11-billion fund. Retail investments have included Orchard Supply Hardware Stores and Anchor Blue Retail Group. Ontario Teachers' has invested in retailer Shoppers Drug Mart. Both firms have made investments in luggage manufacturer Samsonite.