GenTech to acquire natural foods company NxtBar

US-based GenTech Holdings has signed an exclusive letter of intent to acquire natural foods company NxtBar.

As part of this deal, GenTech will start implementing numerous operational synergies immediately, including expanding NxtBar’s sales footprint including growth into GNC, Walmart.com, Amazon.com, TruNorth (Canada).

GenTech also plans to make use of its extensive network of more than 2,000 other brick-and-mortar locations across the US.

The company recently closed its acquisition of Sinfit Nutrition, which offers a range of high-end functional foods.

GenTech president and Sinfit Nutrition CEO Leonard Armenta 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.”

NxtBar claims that all its nutrition bars are non-GMO products and contain low-sugar, as well as carb and are gluten-free.

Its products are available in eight different flavours, including chocolate peanut butter, chocolate coconut, cookie dough, and banana nut bread.

The companies have not disclosed the financial details of the deal, which is expected to close this month.

In April 2021, GenTech’s Sinfit Nutrition unit closed the agreement to acquire the assets of the Yourganics brand.

At that time, GenTech said that it intends to expand the range, which will include a ‘Yourganics from Sinfit’ offering.