USA: GenTech Holdings to acquire NxtBar

GenTech Holdings, emerging leader in the high-end premium coffee and functional foods has announced the acquisition of protein bar brand NxtBar.

According to sources, the company has signed a letter of intent to purchase NxtBar.

NxtBar produces a range of protein bars that are claimed to be keto-friendly, low in carbohydrates, low in sugar, paleo friendly and gluten free. GenTech Holdings plans to increase the bars’ sales footprint.

Leonard Armenta, president of GenTech and CEO of Sinfit Nutrition said: “We continue to execute on a successful, high-growth roll-up strategy in our Sinfit branded segment. 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”.

The transaction is expected to close by the 25th of June for an undisclosed value.

Source: FooodBev