GenTech Holdings Inc. (OTCMKTS: GTEH) Expanding Sinfit Roll-Up with MPB Cookies’ Acquisition

GenTech Holdings Inc. (OTCMKTS: GTEH) has announced it has entered an asset purchase agreement to acquire accounts receivables, customer relationships, and assets related to MPB Cookies.

GenTech expanding its healthy snacks portfolio with MPB Cookies acquisition

MPB is a gluten-free, high-protein food company that manufactures high-end protein cookies. In the last42 months as a privately held firm in the sports nutrition market, MPB has generated more than $2.7 million in revenue. GNC, Amazon.com, Circle K, Walmart, FiveStar, Canteen, QVC, and BodyBuilding.com are just a few companies that sell MPB products.

David Lovatt, GeneTech CEO, said that they love the product and branding created by MPB. He said that they produce terrific-tasting, delicious, guilt-free snacks that are an excellent fit for its current product lineup. Lovatt said they have a thorough understanding of the prospect and see strong synergies with GenTech’s current activities. The company has made immediate plans to expand the distribution of the current MPB products and widen and diversify the product base to unlock even more value.

MPB manufactures its products with rolled oats and features Whey and Chickpea protein without artificial sugars. There is also an available Keto-friendly version of the MPB snacks. T MPB is also working on creating a high-fiber cookie, which will be available in the fourth quarter of 2021.

ResearchandMarkets.com indicates that the global Health and Wellness Foods market is expected to reach $1.1 trillion by 2027, from $764.2 billion in 2020.

GenTech to acquire NXTBAR

Recently, GenTech announced NXTBAR LLC‘s acquisition, a popular natural foods company with growing and robust sales and visions to reinvent healthy snacking via a keto-friendly snack line. GenTech signed a letter of intent for NxtBar’s acquisition with a closing date of June 25.  The company will immediately implement various synergies as part of the deal, including expanding NxtBar’s sales footprint.