China’s Bright Food Group (600597.SH) is close to announcing a deal to acquire US vitamin retail chain GNC Holdings for US$2.5-3 billion, Reuters reported, citing a source familiar with the situation. GNC, currently owned by Ares Management and the Ontaria Teachers’ Pension Plan Board, sells nutrition supplements, vitamins and other diet products through 7,100 stores around the world. GNC has also been exploring the possibility of an IPO, and has filed registration papers with the US Securities and Exchange Commission for a US$350 million IPO. Ares Management and the Ontario Teachers’ Pension Plan Board bought GNC from Apollo Management for US$1.65 billion in 2007. Bright Food is one of China’s largest food and dairy companies and it has been busy with M&A negotiations this year. After talks to acquire UK snack-maker United Biscuits collapsed in November, Bright Food turned its sights on GNC.