GNC Holdings Inc. has reportedly met with Chinese buyers in recent weeks for a potential buyout that could be valued up to $4 billion including debt, The Wall Street Journal reported citing sources with knowledge about the matter said.

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The company's market is roughly estimated at $1.3 billion and its debt is nearly valued at $1.6 billion.

GNC Holdings' Chinese suitors include Shanghai-based Fosun Group, investment firm ZZ Capital International, and several other Chinese pharmaceutical companies, the sources said. It is not clear if the interest would likely end up in bids for GNC, according to the Wall Street Journal.

When asked for a comment, GNC told CNBC that the company "does not comment on rumors or market speculation."

GNC, which sells vitamins and herbal supplements, has more than 9,000 stores across the globe. Despite opening only eight branches in China since it entered five years ago, it has become one of the top sellers on China's online shopping sites including Alibaba's T-mall and its rival JD.com.

Although GNC's international business suffered a 4.6 percent drop to $79.9 million this year through June, its $3.5 million sale increase in its China business somehow alleviated the decrease.

Meanwhile, shares of GNC Holdings jumped to as much as 8 percent in early trading Wednesday following reports of a Chinese buyout, the Business Insider reported.

If the deal materializes, this would become the biggest Chinese deal in the nutrition sector since June, when China's Xiwang Foodstuffs acquired Iovate Health Sciences International for $730 million, the CNBC reported.

TagsAcquisition, merger and acquisition, GNC, GNC Holdings, GNC China, GNC Buyout, Fosun Group, ZZ Capital