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General Nutrition Centers (GNC)

General Nutrition Centers (GNC)

Industry: 
Food and Beverage
States: 
PA
Country: 
USA
Sources: 

In a correspondance with the SEC in 2009, GNC disclosed details of their business in Iran. 

"The Company advises the Staff that there are no GNC stores in Iran and that GNC has no past, current or anticipated contacts with Iran other than with Kharazmi Pharmaceutical Co. (“KPC”). On October 17, 2008, GNC obtained the required OFAC license (OFAC license no. IA-10892) to export certain GNC products to Iran, and entered into a distribution agreement with KPC with a term that matches the one year term of the OFAC license. GNC does not have direct operational contact with KPC under the distribution agreement; rather, GNC works through Canmed Enterprises Corp (“Canmed”), KPC’s affiliate." (CORRESP for GENERAL NUTRITION CENTERS INC, 10/14/2009)