Tekcapital hails MicroSalt®’s North American roll-out
Tekcapital’s portfolio company Salarius' subsidiary, MicroSalt, Inc. has been accepted for a roll-out of its SaltMe! crisps in one of the largest supermarket chains in North America.
The UK investment firm said the roll-out marked ‘a significant milestone’ for Microsalt and it anticipates the SaltMe! crisps will be available in more than 800 of these stores in 2022.
MicroSalt develops a low-sodium salt called MicroSalt®. Its distinguishing feature is its small salt particles-- about one hundred times smaller than typical table salt-- that use a large surface area-to-volume ratio to generate a salty taste while using significantly less salt.
The particles of MicroSalt®, which is non-GMO and Kosher, are around 100 times smaller than table salt, allowing them to rapidly dissolve, producing a large sensation of saltiness.
Decreasing the public’s sodium intake would aid the efforts to curtail heart disease, which according to the British Heart Foundation, causes more than a quarter, 27%, of all deaths in the UK; that's more than 160,000 deaths each year – or one death every three minutes.
According to Market Researcher Future Market Insights, it is estimated that the sodium reduction market will be worth around $1.76 billion by 2025 with a CAGR of 11.8%.
Microsalt expects SaltMe! to become ‘a national brand’ in the low-sodium-full flavour snack category and that its e-commerce sales should be ‘positively impacted’, given a correlation between retail distribution, brand awareness, and expected increase in ecommerce sales.
It said MicroSalt® as a brand ‘could be elevated to a national-level ingredient,’ which it believes will encourage other food manufacturers to use MicroSalt® into their products.
Speaking of its portfolio company, Tekcapital said Salarius is expected to have ‘a stronger go-to-market success story to present to other key accounts in the following months.’
MicroSalt®’s CEO, Victor Hugo Manzanilla, said: “This is a major milestone for the Company and one that we believe will lead to reduced sodium consumption for customers nationwide."
Salarius successfully launched its innovative SaltMe!® snack line on Amazon in North America back in December 2020 with ‘demonstrable sales growth’ since the launch.
During the six months to 31 May 2021, Salarius progressed its B2B sales pipeline for Microsalt®, including advancing pricing discussions and successfully developing different flavor mixes using MicroSalt® for a number of snack manufacturers, Tekcapital reported.
London-listed Tekcapital owns 97.2% of the share capital of Salarius Ltd. and 87.1% of the share capital of MicroSalt Inc., its U.S. subsidiary.
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