NEW YORK, New York, U.S. – GenTech Holdings, Inc., an emerging leader in the high-end Premium Coffee and Functional Foods marketplaces, is pleased to announce that the Company has signed a contract with Fusion Consulting Group (“Fusion”) (www.fusioncgpr.com), a leading functional food and sports nutrition distributor based in Puerto Rico.
Founded in 2008, Fusion has become Puerto Rico’s Top Functional Food and Sports Nutrition Distributor, servicing over 1200 locations in Puerto Rico, including Walmart, Sam’s, Costco, CVS, and Walgreens. Fusion also has a distribution footprint that includes the Caribbean Islands and Central America, and is in the process of expanding into parts of South America. Fusion serves supermarkets, mass merchandisers, C-Stores, gyms, health food stores, and pharmacies, as well as other distributors internationally.
Sheila Gomez, Fusion‘s CEO, commented, “It is an honor for Fusion to be chosen as SINFIT’s partner in Puerto Rico and the Caribbean. Current market trends strongly suggest an increasing appreciation of health and wellness among consumers in these markets, and SINFIT’s functional foods products are ideally positioned as a cornerstone in this ever-increasing movement.”
Based on data from Fusion and GenTech’s own analysis, the Company estimates the Fusion contract to be worth approximately $200,000.00 in new sales in the inaugural partnerships 1st year, with the potential to grow substantially in the years ahead.
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.
This relationship with Fusion accompanies recent strides by GenTech and SINFIT to lock down expanded access to markets worldwide, including its recent qualification for Mass Retailer status with Europa Sports, one of the largest US distributors in the sports nutrition space, as well as True North Nutrition, one of the largest sports and nutrition distributors servicing the Canadian market.
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).
David Lovatt, CEO of GenTech, added, “Fusion has a tremendous network and increasing mass retail footprint, and we anticipate a strong and growing flow of orders through this new channel. We look forward to years of productive and mutually beneficial business with Sheila and her exceptional team, as SINFIT gains an accelerating position in the rapidly growing functional foods marketplace.”