Shanghai's biggest food and dairy company, the Bright Food Group, is now close to an agreement to buy U.S. vitamin retailer GNC for as much as $3 billion US dollars.
The purchase will give the company control of over 7,000 retail outlets around world selling vitamins, nutrition supplements and sports drinks.
Bright Food has been targeting overseas acquisitions to bolster its growth. The company entered talks in September to buy the U.K.'s United Biscuits.
In April it offered $1.7 billion US dollars in an unsuccessful bid for the sugar unit of Australia's CSR.
Analysts say the GNC acquisition should help Bright Food expand its reach in the Chinese market as well.
The potential acquisition is expected to be announced in a few days.
