GCIMicroSalt to launch salt shakers to major US retail chains in October
[source: MicroSalt]
( ), an intellectual property investment group, updated markets this morning on its MicroSalt business (formerly known as Salarius).
MicroSalt is the developer and manufacturer of a proprietary low-sodium salt. Using a patented process of producing salt crystals, MicroSalt claims to achieve the same teste as regular table salt at half the sodium content. Tekcapital owns 97.2% of MicroSalt and 73% of its US subsidiary.
Tekcapital announced today that MicroSalt will launch its salt-shaker product to major US retail chains on 1 October 2022. The shakers will be available in 2-ounce and 6-ounce sizes, and offer a direct way for consumers to access MicroSalt's low-sodium salt.
The shakers will debut at the Expo East Food convention in Philadelphia next week, with sales beginning in major retail chains and food distribution channels the following week. MicroSalt shakers will also be available on Amazon in the later part of October 2022.
"We are proud to be able to bring such an essential product to consumers nationwide. Sodium is one of the leading contributors to hypertension and these shakers can help minimize the negative impact that excess sodium consumption has on human health" said Rick Guiney, CEO of MicroSalt.
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This is a significant milestone for MicroSalt as it makes its product available directly to consumers in a standalone form. Currently, it is available as the key ingredient in MicroSalt's SaltMe! brand of crisps, sold at Kroger in the US, the country largest supermarket chain by revenue. MicroSalt also recently executed its first bulk B2B order in the US.
Additionally, MicroSalt has now received commitments from UNFI, a premier North American food wholesaler, for placement in several of its distribution centers. MicroSalt said it is exploring product line extensions with sea salt and Himalayan salt as well as geographic expansion into the UK, Europe, and Canada in 2023.
What is interesting about MicroSalt's product is that it is not a substitute, but actual salt. The company's patented technology produces salt crystals that are 100 times smaller than normal table salt, so they deliver the same intensity of taste at 50% the sodium content. It is a potentially disruptive technology, and the company's aggressive rollout has proven the food industry is interested.
Tekcapital has raised the possibility of a potential future listing of MicroSalt in London, although an official announcement has yet to be made.
The combined value of Tekcapital's four portfolio companies has grown steadily since initial investment in 2018, from £8.4m in 1H18 to £62.5m in FY21. Tekcapital most recently reported a 13% increase in net assets in 1H22 to a record US$76.9m, with NAV per share increasing 6% HoH to US$0.51. Previously, had announced a 108% net asset increase and a 243% increase in income YoY for FY21.
Overall, has shown that it can pick IP companies with the potential to grow and disrupt their respective sectors, despite repeated headwinds in the global economy over the past 5 years.
shares were up 5.6% on the news this morning.
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