SINFIT Nutrition Executes Distribution Agreement to Sell Product into CrossFit™, the largest Gym Chain in the US
DENVER, CO, September 30, 2020 (GLOBE NEWSWIRE) — via OTC PR WIRE — GenTech Holdings, Inc. (OTCMKTS: GTEH) (“GenTech” or the “Company”) (www.gentechholdings.com) , a Holding Company in the high-end Premium Coffee and Functional Foods marketplaces for Secret Javas (www.secretjavas.com) Inc. & SINFIT Nutrition, Inc., www.sinfitnutrition.com) is pleased to announce that SINFIT Nutrition has partnered with Wheelpay™ (www.wheelpay.com) to supply Crossfit™ Gyms (www.crossfit.com) throughout the USA.
SINFIT Nutrition has secured a partnership with WheelPay so that they can supply CrossFit Gyms across the USA with the entire SINFIT range of products. WheelPay currently services 6,000 of the 13,000 CrossFit gyms and are expanding their reach further into the CrossFit gym market as well as into other exercise franchise and affiliate marketplaces.
Harold Vaca, VP Domestic Sales at SINFIT, stated “Having worked with the CrossFit scene for the last three years at the National and Regional levels, it has allowed me to better understand the needs of the CrossFit athletes, how their bodies work and how they recover. We are very proud to be partnering with WheelPay.com and the team there as well as having the ability bring our full range of delicious functionals foods to so many CrossFit Gyms across the country and provide them with healthy options to fuel their bodies.”
SINFIT branded products registered over $2.5 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, True North Nutrition in Canada and in over 10,000 global physical and e-commerce stores across more than 10 countries around the world.
Wheelpay’s Co-Founder, Kevin Todd, recently commented that they were “proud to partner with Companies like SINFIT Nutrition that provide innovative and unique products to our WheelPay affiliates and athletes across the country.”
SINFIT products are extremely well-positioned relative to its market peers and to the long-term macro tailwind defining the functional foods market, 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.
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.