Tekcapital (TEK,) announced today that its portfolio company MicroSalt has partnered with a Fortune 500 national retailer to develop and execute low-sodium solutions across the retailer's line of private branded snack offerings.
The partnership will deliver several snacks using MicroSalt® in lieu of traditional salt, beginning with 800 stores by Q4 2023 and expected to eventually expand to over 7,000 store locations.
The partnership is anticipated to have a significant impact on both companies, positioning them as leaders in low-sodium retail initiatives and expanding their global customer base with healthy, lower sodium alternatives.
"We are proud to work with this leading retail chain in their efforts to offer low-sodium solutions to their customers through their private branded products. According to the World Health Organization, excess sodium consumption is a leading contributor to cardiovascular disease, and partnerships like this are a great way to make a positive difference in global health," said Rick Guiney, CEO of MicroSalt.
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Tekcapital's announcement today highlights MicroSalt's strong position in the sodium reduction ingredient industry, following the recent news in late February of its low-sodium shakers expanding distribution through two major US retailers.
The company's products have witnessed significant demand due to the high prevalence of high blood pressure or hypertension among adults in the US and worldwide. The company notes that 1.1 billion adults have high blood pressure around the world, along with nearly 1 out of 2 adults in the United States.
Additionally, most Americans consume at least 1.5 teaspoons of salt per day, or about 3400 mg of sodium, which contains far more than our bodies need. Against this backdrop, MicroSalt is well-positioned as a solution that can offer many health benefits to a population at risk of sodium-related illnesses.
MicroSalt’s latest news further highlights the strength of Tekcapital’s investment portfolio, so make sure to follow Tekcapital to keep up to date with all of its latest announcements .