New York, New York--(Newsfile Corp. - July 15, 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 pleased to announce that it has leased a new facility allowing The Company to manage their increasing operational demands, including storage and handling of increased inventory levels, in response to the accelerated pace of growth underway since ramping up its recently acquired SINFIT Nutrition (SINFITnutrition.com) ("SINFIT") functional foods brand.
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Since acquiring SINFIT last quarter, GenTech witnessed immediate topline growth, with $130,000 in sales during their initial month of June. And with additional new orders coming in from a global network of distributors, the Company has also expanded its ecommerce availability, and GenTech's US SINFIT sales team has ramped up activity with domestic US distributors already very familiar with the brand and sitting on reportedly thin inventories.
Given the rapid rate of growth, to assure against any disruption in timely processing and shipment of new orders, the Company is moving into a new office and warehouse facility today (July 15th) located in the greater Denver metro region - often considered the central hub for domestic US distribution. The lease currently provides for 4000 sq. ft. and carries a built-in option to expand to 8,000 sq. ft. within three (3) months. The property lease also includes the rights to a prime physical advertising space directly adjacent to a major highway (Interstate 70) with daily traffic exceeding over +300,000 people per day.
"Our SINFIT team needs the room to handle our ramping product flow from new orders," commented David Lovatt, CEO of GenTech. "We anticipated increased logistical demands - a great sign - but we hadn't expected to make this move so soon - which is also a great sign. To put it in concrete terms, the current $100,000 in product that was ordered just last week consists of 10,000 bags of protein infused pancakes, over 25,000 bottles of sugar-free syrup, 3000 caffeinated flavored spreads, 8000 of our brand new offering of 'nutrition waffles', and 4000 units of our protein infused cookies as well as 5000 protein bars, both of which are our newly re-formulated recipe"
SINFIT branded products registered over $2.2 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 and over 10,000 global physical and e-commerce stores across more than 10 countries around the world, along with True North stores in Canada.
SINFIT products are well-positioned relative to their sector peers and to the long-term macro tailwind defining the functional foods market itself, 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).
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.
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
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