LONDON - Tekcapital Plc (AIM: TEK), the UK-based intellectual property investment group, has announced a new supply agreement through its portfolio company MicroSalt® plc with Canadian health food company Hippie Snacks. The partnership includes an initial order and plans to introduce a range of products in the coming months.
MicroSalt® is known for its innovative, full-flavor salt product that contains about 50% less sodium than traditional salt, aiming to offer a healthier alternative without compromising taste. The agreement with Hippie Snacks, a company specializing in minimally processed, clean label food products, aligns with both companies' missions to provide healthier food options.
CEO of MicroSalt, Rick Guiney, expressed enthusiasm about the collaboration, highlighting Hippie Snacks' established distribution network which includes e-commerce platforms like Amazon (NASDAQ:AMZN) and Thrive, as well as brick-and-mortar Tier-1 locations such as Target (NYSE:TGT) stores. The rollout of the initial product is scheduled for Q1 of 2025, with expectations to expand to up to eight different stock-keeping units (SKUs) in North America within the next 12 to 24 months.
Hippie Snacks, based in Burnaby, British Columbia, began as an organic tortilla chip company and has since expanded its range to include a variety of plant-based crisps. As a Certified B corporation, Hippie Snacks is committed to ethical and responsible snack production, using high-quality, non-GMO, and whole-food ingredients sourced from local farmers who support sustainable practices.
MicroSalt®'s patented low-sodium salt solution is part of Tekcapital's portfolio of companies that focus on enhancing quality of life through innovative products. Tekcapital holds a significant share in MicroSalt plc, owning 33,305,749 shares.
This news is based on a press release statement and reflects the ongoing efforts within the food industry to cater to health-conscious consumers by offering products that are both tasty and nutritionally beneficial.
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