Tekcapital portfolio firm Salarius signs US distribution deal
Intellectual property investment company Tekcapital announced on Wednesday that its portfolio company Salarius has signed a distribution agreement with Gehring-Montgomery, a United States ingredient distributor, in a bid to expand business-to-business sales of ‘MicroSalt’ across the US.
The AIM-traded firm described Gehring-Montgomery as a “leading distributor” of food and raw materials for commercial and industrial manufacturers in the food, automotive, coatings, adhesives, pharmaceutical, and personal care industries across North America.
It said the partnership would add “another dimension” to the MicroSalt strategic sales plan, which included working with “best-in-class” sales partners to increase revenue and brand awareness, an “aggressive” business-to-business outreach initiative to source new customers, attendance at food trade shows such as Expo West and Supply Side West, Covid-19 permitting, and securing customer opportunities outside of the US.
“We are extremely energized about our partnership with Gehring-Montgomery and working closely with their team of sales experts to increase brand awareness and accelerate sales of MicroSalt,” said Salarius chief executive officer Victor Hugo Manzanilla.
“Our partnership is a win-win-win as we are offering their customers a unique, on-trend, innovative ingredient that will also help consumers lower their sodium intake.”
At 1420 BST, shares in Tekcapital were up 30% at 13p.