NEW YORK, NY
-- July 30, 2020 -- InvestorsHub NewsWire
-- GenTech Holdings, Inc. (OTC
PINK:
GTEH) ("GenTech" or the "Company"),
an emerging leader
in the high-end Premium Coffee and Functional Foods
marketplaces, is extremely pleased to announce that the
Company has
signed a contract with Fusion Consulting Group
("Fusion")
(www.fusioncgpr.com), a leading functional food and
sports nutrition distributor based in Puerto
Rico.
Founded in 2008, Fusion has
become Puerto Rico's Top Functional Food and Sports Nutrition Distributor, servicing over 1200 locations
in Puerto
Rico,
including Walmart,
Sam's, Costco,
CVS,
and
Walgreens. Fusion also has a distribution footprint that includes
the Caribbean Islands
and
Central America,
and is in
the process of expanding into parts of
South
America. Fusion serves supermarkets, mass
merchandisers, C-Stores, gyms, health food
stores, and pharmacies, as well as other distributors
internationally.
Sheila Gomez, Fusion's
CEO, commented, "It is an honor for Fusion to be
chosen as SINFIT's partner in Puerto Rico
and the Caribbean. Current market trends strongly suggest an
increasing appreciation of health and wellness among consumers in
these markets, and SINFIT's functional foods
products are
ideally positioned as a cornerstone in this ever-increasing
movement."
Based on data from Fusion and
GenTech's own analysis, the Company estimates the Fusion contract
to be worth approximately $200,000.00 in new sales
in the inaugural
partnerships 1st year, with the potential to
grow substantially in the years ahead.
SINFIT branded products registered
over $2.5 million in global sales in
2019, and are now approved for sale and available for purchase on
the Walmart.com and Amazon.com e-commerce platforms as well as in
over 2,500 GNC locations in North America, True North Nutrition in
Canada and in over 10,000 global physical and
e-commerce stores across more than 10 countries around the
world.
This relationship with Fusion
accompanies recent strides by GenTech and SINFIT to lock down expanded access to
markets worldwide, including its recent qualification for Mass
Retailer status with Europa Sports, one of the largest US
distributors in the sports nutrition space, as well as
True North
Nutrition, one of the largest sports and nutrition
distributors
servicing the
Canadian market.
SINFIT products are extremely
well-positioned
relative to its market peers and to the long-term macro tailwind
defining the
functional foods market, which saw sales top $267 billion in
February of this year on a global basis, with sales in the US
reaching $63 billion, according to Euromonitor 2020.
This trend is part
of a larger supportive momentum in the general category,
with global sales of organic food and
drink topping $105 billion in 2018
(Ecovia 2019). U.S. organic food
sales also reached $47.9 billion, up 5.9%
in 2018 (OTA
2019). In 2019, 77% of U.S. adults used dietary supplements, an
all-time high (CRN 2019). U.S. supplement sales are estimated to
have reached $49.3 billion in 2019, up 6.2% (NBJ 2019).
David Lovatt, CEO of GenTech,
added, "Fusion has a tremendous network and increasing mass retail
footprint, and we
anticipate a strong and growing flow of orders through this new
channel. We look forward to years of productive and mutually
beneficial business with Sheila and her exceptional
team,
as
SINFIT
gains an
accelerating position in the rapidly growing functional foods
marketplace."
About
GenTech Holdings, Inc.:
GenTech Holdings, Inc. is a
publicly traded company under the symbol
GTEH. The Company launched a high-end Coffee Subscription
service in early 2020 called Secret Javas and has recently closed
on its acquisition of SINFIT Nutrition, which offers
a range of high-end
Functional Foods.
Forward-Looking Statements
This press release
may contain forward-looking statements, including information about
management's view of GenTech, Inc.'s future expectations, plans and
prospects. In particular, when used in the preceding discussion,
the words "believes," "expects," "intends," "plans," "anticipates,"
or "may," and similar conditional expressions are intended to
identify forward-looking statements. Any statements made in this
news release other than those of historical fact, about an action,
event or development, are forward-looking statements. These
statements involve known and unknown risks, uncertainties and other
factors, which may cause the results of GenTech, its subsidiaries
and concepts to be materially different than those expressed or
implied in such statements. Unknown or unpredictable factors also
could have material adverse effects on GenTech's future results.
The forward-looking statements included in this press release are
made only as of the date hereof. GenTech cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, GenTech undertakes no
obligation to update these statements after the date of this
release, except as required by law, and also takes no obligation to
update or correct information prepared by third parties that are
not paid for by GenTech.
Corporate
Contact:
invest@gentech.group
www.gentechholdings.com
GenTech (CE) (USOTC:GTEH)
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GenTech (CE) (USOTC:GTEH)
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