©NxtBar
GenTech Holdings has announced its acquisition of protein bar brand NxtBar for an undisclosed sum.
The company says that it has signed a letter of intent to acquire NxtBar and the transaction is expected to close on 25 June.
NxtBar offers a range of keto-friendly protein bars in flavours such as chocolate peanut butter, cookie dough and vanilla almond butter.
The brand’s offerings are said to be low in carbohydrates, paleo friendly and gluten free, while containing less than 2g of sugar per serving.
Following the acquisition, GenTech will aim to significantly expand NxtBar’s sales footprint.
The announcement follows GenTech’s purchase of functional food company Sinfit Nutrition, which offers products such as protein powders, cookies and bars.
“We continue to execute on a successful, high-growth roll-up strategy in our Sinfit branded segment,” said Leonard Armenta, president of GenTech and 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.”
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