GenTech's SINFIT Nutrition Brand is Excited to Add Fusion Consulting Group as a New International Distributor
New York, New York--(Newsfile Corp. - July 30, 2020) - 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.
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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.
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.
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