LONDON - MicroSalt PLC (AIM: SALT), known for its full-flavour, low-sodium salt, has announced a supply agreement and initial order with Canadian clean label food company Hippie Snacks. The partnership will introduce MicroSalt's product into Hippie Snacks' distribution network, which includes e-commerce platforms such as Amazon (NASDAQ:AMZN) and Thrive, as well as physical stores like Target (NYSE:TGT).
The CEO of MicroSalt, Rick Guiney, expressed enthusiasm about the collaboration, highlighting the alignment of both companies' missions to offer healthier food options. The rollout is set to begin with an initial product in the first quarter of 2025, with plans to expand to up to eight different stock-keeping units (SKUs) over the following 12 to 24 months in both Canada and the United States.
Hippie Snacks, based in Burnaby, British Columbia, is a Certified B corporation that prioritizes ethical and responsible snack production, using high-quality, non-GMO, and whole-food ingredients. The company began with organic tortilla chips and has since expanded its range to include a variety of plant-based crisps.
MicroSalt's patented technology produces micron-sized salt particles that deliver the same taste as regular salt but with about 50% less sodium, addressing public health concerns over high sodium intake. With the World Health Organization aiming for a 30% reduction in global sodium intake by 2025, MicroSalt is positioned to meet the demand for healthier alternatives in the food market.
The company holds two U.S. patents, as well as patents in China, Mexico, and Australia, and has multiple patent applications pending in other jurisdictions. This technology creates a high barrier to entry in the reduced-sodium salt market. MicroSalt aims to capitalize on the growing low sodium market and potentially enter the larger salt market with its three-pronged marketing strategy targeting B2B food manufacturers, B2C markets, and e-commerce customers.
This announcement is based on a press release statement and reflects the current business strategy of MicroSalt as it seeks to expand its reach and impact in the healthy food sector.
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