WHEAT RIDGE, COLO. — GenTech Holdings, Inc., an emerging player in the high-end premium coffee and functional foods categories, has reached an agreement to acquire NxtBar, LLC, a Charlotte, NC-based maker of paleo- and keto-friendly nutrition bars. Financial terms of the transaction were not disclosed.
NxtBar’s products are low-sugar, low-carb, keto-friendly, paleo-friendly, non-GMO and gluten-free, containing less than 2 grams of sugar per serving. The bars are available in eight flavors, including chocolate peanut butter, chocolate coconut, cookie dough, lemon pound cake, vanilla almond butter, cookies and cream, oatmeal chocolate chip and banana nut bread.
Once the acquisition is finalized, GenTech said it plans to expand NxtBar’s presence into GNC, Walmart.com, Amazon.com, TruNorth (Canada) and the company’s extensive network of more than 2,000 other brick-and-mortar locations across the United States.
“We continue to execute on a successful, high-growth roll-up strategy in our SinFit branded segment,” said Leonard Armenta, president of GenTech and chief executive officer of SinFit Nutrition. “The NxtBar acquisition follows our acquisition of Yourganics last quarter, and we are working toward two further strategic moves that have strong implications for our twin goals of accelerating SinFit revenue growth and diversifying our product offerings in the sports nutrition space.”
GenTech launched a high-end coffee subscription service in early 2020 called Secret Javas and later last summer acquired SinFit Nutrition, a functional food brand sold in more than 2,500 GNC locations in North America and over 10,000 global physical and e-commerce stores across more than 10 countries around the world.
The Link LonkJune 14, 2021 at 08:41PM
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GenTech snags sports nutrition bar brand | 2021-06-14 | Baking Business - Baking Business
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