The GenTech Holdings Inc (OTCMKTS:GTEH) stock has made a strong move this morning and rallied by 8% after the company announced that signed an asset purchase agreement with MPB Cookies.
The company is involved in the premium coffee and functional food spaces and this acquisition adds to GenTech Holdings’ range of product offerings. MPB is involved in the production of premium protein cookies and also makes gluten free snacks that are high on proteins. Over the course of the past 42 months, the company has managed to generate sales of more than $2.7 million.
However, in this regard, it is more important to point out that the privately held company has also managed to spread its footprint far and wide. At this point, MPB’s products are distributed through BodyBuilding.com, QVC, GNC, Canteen, Amazon, Circle K, and Walmart. David Lovatt, the Chief Executive Officer of GenTech, stated that likes the branding and the range of products that have been created by MPB.