Blackstone Said to Team With Bright Food to Buy GNC

Blackstone Group LP is teaming up with Bright Food Group Co., Shanghai’s biggest food and dairy company, to acquire vitamin and supplement retail chain GNC Holdings Inc., said two people with knowledge of the matter.

The deal may be announced as early as this month, said one of the people, who asked not to be identified because the talks are confidential. It may be the largest U.S. takeover by a Chinese buyer, eclipsing Lenovo Group Ltd.’s $1.25 billion purchase of International Business Machines Corp.’s personal computer business in 2004, according to data compiled by Bloomberg.