GenTech
Acquires
SinFit Nutrition,
Leading GNC
Functional Foods Brand
with $2.2M in
Revenues
NEW YORK, NY
-- June
10,
2020
-- InvestorsHub
NewsWire -- GenTech Holdings, Inc. (OTC
PINK:
GTEH) ("GenTech" or the "Company"), an
emerging leader in the high-end Premium CBD Coffee and
Functional Foods marketplace,
is
excited to announce
that the Company has now acquired all of the assets,
including inventory, revenues,
goodwill, intellectual property, trade
secrets, and
trading relationships, of Sinister Labs, LLC, and its popular
Sinfit
Nutrition
brand
(Sinfitnutrition.com) ("SINFIT"), a top-5 functional food brand
currently
sold in over 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.
"Sinfit
Nutrition isn't
just a top brand with a strong global sales track
record,"
commented David Lovatt, CEO of GenTech. "It's also a prime
distribution footprint that overlaps with our Secret Javas product
line with
exceptional synergy in terms of end market
definition. We hope our shareholders can
see what we acquired here: Strong and growing
revenues. Thousands of stores and
e-commerce sales channel
relationships
for
Sinfit
products as well as
current and future Secret Javas products. And a strong built-in
relationship with the largest sports nutrition
and
supplement distributors in North
America.
In addition, we
have already assembled a top sales team with over 20
years' experience in the sports nutrition and supplement
market to
drive expansion looking
ahead."
Management notes
that Sinfit is currently distributed
by Europa
Sports, the largest sports nutrition
distributor in the US. The brand also just signed on with True
North Distributors, one of Canada's largest distributors
of supplies and products.
Sinfit
logged $2.2 million
in 2019 revenues through sales of products across more than
10,000 sales
channels globally, including both physical stores and e-commerce
storefronts.
In addition,
management
is particularly excited about the opportunity this acquisition
affords for dramatically expanding its sales footprint for its
Secret Javas product line, which the Company plans to expand into
the Ready-to-Drink marketplace. The Company believes it will be
able to capitalize on the breadth of relationships established
for Sinfit
products to widen distribution for Secret Javas
products.
Sinfit
offers a range of
protein-rich performance foods, including spreads, bars,
and
powders. To fuel further growth in
sales of
Sinfit
Nutrition
products, GenTech has already put together
a top
sports nutrition sales team
with
over 20
years' experience in the industry,
including strong experience dealing with the international sports
nutrition marketplace.
The
acquisition
transaction is now officially closed.
Lovatt
continued, "Now
that we have completed this strategic move, one of the steps I am
most excited about is the upcoming launch of an additional product
line that is part of this acquisition and that carries with it an
existing successful brand identity. We look forward to
providing further details very soon. We
are committed to launching this new line of products within the
next four weeks."
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 is now making
acquisitions to support the further growth of the
company.
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