GenTech Holdings, Inc. (“GenTech” or the “Company”) is excited to announce the Company’s acquisition of NXTBAR, LLC (“NxtBar”), a natural foods company with strong and growing sales and a mission to reinvent clean, healthy snacking through its popular keto-friendly product line. The Company has signed an exclusive letter of intent to acquire NxtBar with an expected closing date of June 25th.
As part of the acquisition, the Company will begin the immediate implementation of numerous operational synergies, including a significant expansion of NxtBar’s sales footprint, including growth into GNC, Walmart.com, Amazon.com, TruNorth (Canada), and the Company’s extensive network of more than 2,000 other brick-and-mortar locations across the United States.
“We continue to execute on a successful, high-growth roll-up strategy in our SINFIT branded segment,” commented Leonard Armenta, president of GenTech & CEO of SINFIT Nutrition. “The NxtBar acquisition follows our acquisition of Yourganics last quarter, and we are working toward two further strategic moves that have strong implications for our twin goals of accelerating SINFIT revenue growth and diversifying our product offerings in the sports nutrition space.”
NxtBar has seen exceptional growth and demonstrated notable resilience through the pandemic, generating 200%+ year-over-year revenue growth and activating 2,000+ retailers since its inception. The Company anticipates further growth ahead as consumer discretionary spending benefits from a strengthening economic context and a notable trend toward healthy lifestyle products.
NxtBar products are low-sugar, low-carb, keto-friendly, paleo-friendly, non-GMO, and gluten-free, containing less than 2g of sugar per serving. The bars come in eight flavors, including Chocolate Peanut Butter, Chocolate Coconut, Cookie Dough, Lemon Pound Cake, Vanilla Almond Butter, Cookies and Cream, Oatmeal Chocolate Chip, and Banana Nut Bread.