A plunge of -6.67% was recorded for GenTech Holdings Inc [OTCPINK: GTEH], which closed the last session at $0.0014. Volume for GenTech stock, an emerging leader in the high-end Premium Coffee and Functional Foods marketplaces, was 849.05M shares against an Average Volume of 450.76M shares. GTEH stock value during the last 52 weeks has ranged between $0.0002 and $0.0189. GTEH stock has been losing the ground it gained after an acquisition earlier this month.
GTEH has acquired what?
GenTech is a publicly traded company that trades under the symbol GTEH. Known as Secret Javas, GTEH’s Coffee Subscription service is one of its high-end products. Additionally, GTEH owns and operates Sinfit Nutrition, a leading functional foods brand offering a broad selection of functional foods.
GenTech announced that its recently acquired MPB Cookies (also known as MPB Snacks) has now become a part of the Smoothie King product line.
- Smoothie King currently includes GNC, Circle K, FiveStar, Amazon.com, QVC, Walmart, Canteen, and BodyBuilding.com and this will help MPB will expand its distribution footprint.
- MPB will participate in Smoothie King’s annual trade show, which takes place on June 24, to start integrating its products into the Smoothie King product line-up.
- Over 1,000 Smoothie King locations can be found in the United States which has approximately 1,300 locations worldwide.
- GTEH’s MPB will showcase its current products, as well as next-generation products in development, to the corporate and franchise Smoothie King buyers and owners at the invite-only event.
- MPB’s products will be available for sampling at Smoothie King, and orders can be placed on site.
- A lot of MPB’s franchise roll-out will be completed by GTEH in 2021 as a result of this agreement.
- MPB is an emerging brand for GTEH, and it will thrive at Smoothie King, a rapidly growing outlet for health-conscious and fitness-oriented consumers.
- GTEH’s Gluten free, high-protein snacks are made by GTEH’s MPB, a gourmet protein cookie company.
- MPB generated more than $2.7 million in sales over its 42-month history of operation prior to being acquired by GTEH.
In what ways will GTEH move forward with MPB?
In addition to offering a tasty, guilt-free snack, MPB’s portfolio of products can be considered a complementary addition to GTEH’s current offerings. This opportunity is extremely well understood by GenTech (GTEH) and has a strong alignment with the company’s existing operations. In order to unlock far greater value, GTEH is planning immediate expansion of MPB’s distribution network and broader and diversified product portfolio.
