WHEAT RIDGE, CO, Oct. 07, 2021 (GLOBE NEWSWIRE) -- GenTech Holdings, Inc. (OTC PINK: GTEH) ("GenTech" or the "Company") (www.gentechholdings.com), an emerging leader in the Functional Foods (www.sinfitnutrition.com) and Nutritional Supplements (www.americanmetabolix.com) marketplaces, is pleased to announce that its recently acquired sparkling protein drink brand, Fizzique, LLC ("Fizzique") (www.drinkfizzique.com) has been selected by Vitacost (https://www.vitacost.com), a Kroger business, as a new product offering on its leading vitamin and supplement e-commerce platform, which is nationally ranked with $1.1 billion in annual sales*.
“Vitacost is a major step for Fizzique given its leadership position in the online supplement marketplace,” noted Leonard K. Armenta Jr, President of GenTech. “But the big story here could be the relationship value this represents beyond that step as we eye the potential for eventual Kroger grocery distribution for Fizzique as well. This is a unique product that targets an interesting market opportunity with no real competition and strong patent protection.”
The Company believes that strong success for Fizzique as a product sold to end-market consumers on the Vitacost online platform will provide a compelling and trusted data point for consideration by the product buying team for Kroger’s supermarket empire, The Kroger Company drove sales in excess of $132.5 billion in 2020. It represents the largest supermarket network in the United States, with 2,726 stores spanning 35 states.
GenTech management attributes this win for Fizzique to its strong partnership with sales agency Vista Brands (“Vista”) and Vista founder, Lisa Feddersen, who came on board in August to help drive sales of Fizzique and MPB Snacks, another brand acquired by the Company this year.
Lovatt added, “This is Lisa’s first big score for Fizzique, and we expect many more will follow given her exceptional network and elite track record of success in the food, drug, and mass market space.”
Kroger acquired Vitacost in 2014 for $280 million in a deal that provided the grocery giant with fresh exposure to ecommerce and the growing organics, supplement, and functional foods marketplace. Vitacost’s annual sales have already grown over 180% since the acquisition.
*See https://ecommercedb.com/en/store/vitacost.com for more information.
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company owns and operates leading functional foods brand, SINFIT Nutrition, which offers a range of high-end Functional Foods as well as American Metabolix, Inc. which provides a diverse range of Nutritional Supplements through its brands American Metabolix, Storm Lifestyles and Core Natural Sciences.
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.
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