Focused on Driving Accelerating
Revenue Growth: Update
on Secret Javas and Recent
Functional Food Acquisition
NEW YORK, NY
-- InvestorsHub NewsWire
-- GenTech Holdings, Inc. (OTC
GTEH) ("GenTech" or the "Company"), an
emerging leader in the high-end food and drinks marketplace,
pleased to update
current and prospective shareholders as the Company takes critical
steps to drive accelerating revenue growth for both its
subscription premium coffee segment ("Secret Javas") and its
recently acquired Functional Food segment.
"We will have more to say in
the very near future about our recent acquisition, but it's
important at this point to let our shareholders know how
we are building
commented David Lovatt, CEO of
"This isn't just a big sales play. It's an extremely potent
value-add from a talent and experience standpoint.
It puts GenTech
firmly on the playing board in the powerhouse functional foods
market, which represents an exceptional complement to our premium
subscription coffee operations."
Through its recent
acquisition, a Company that wrote
million in annual revenue in 2019, it has also acquired
with top-tier talent that boasts over 20 years'
experience in international
in the Sports Nutrition industry driving millions in sales
spread across over 70 countries around the world.
frontline experience at powerhouses EAS and MusclePharm, and direct experience
successfully marketing products to teams in the MLB, NBA, and NFL. This also includes A-level
relationships with a wide network of distributors in the Midwest
and California and notable top-selling industry performers
distributing over the Amazon.com platform.
GenTech is already leveraging
these assets to form a virtual team
table. Management believes the
functional foods space represents a powerful opportunity to drive
tremendous value for shareholders. According to Grand View
Research, the global functional foods
market is projected to
billion by 2025, growing at nearly 8% CAGR,
from an estimated $161 billion in 2018.
positions GenTech to capitalize on a robust growth trend
while balancing the
equally exciting growth opportunity we are already
targeting in the
premium subscription coffee market through our Secret Javas
According to a consumer survey
conducted by National Coffee Association of America, the total
retail value of the U.S. coffee market is estimated to be $48
billion dollars with specialty comprising approximately 55% value
share. In other words, the "Specialty" category in coffee is
becoming dominant in both volume and sales. Coffee is also becoming
increasingly popular with younger consumers, who are more likely to
adopt an online subscription consumer pattern, with the number of
18-24 year-olds who drink specialty coffee rising from 28% to 35%
In addition, revenue in food
and beverages ecommerce in the US is expected to reach $15bn by
2021, rising from $9bn in 2016. But, inside of that, Payments News
reports that the approximate revenue from those who subscribe to
products using the Amazon platform, rose from $2.9 billion to $11
billion from 2014 to 2018, with a significant proportion of these
purchases in the grocery and gourmet food section. That's a 260%
increase over this period, which gives a strong indication of the
growth wave in this segment as more and more consumers transition
to ecommerce for perishable goods.
GenTech Holdings, Inc. is a
publicly traded company under the symbol GTEH. The company is
creating a national chain of Hemp Centric Coffee Shop Retail Spaces
where patrons can relax, drink CBD infused Teas and Coffees, try
various own-brand products and experience holistic
and classes. The company is also building an extensive outreach
program working with medical practitioners across the country in
their own locations to educate their patients and increase
awareness of the benefits of THC free CBD Products. All of this is
offered under the brand 'The Healthy Leaf'.
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.