MicroSalt enters premium foodservice market, shares rise

MicroSalt shares were higher on Wednesday after the low-sodium salt technology company announced entry into the premium foodservice market.

MicroSalt has again demonstrated its burgeoning addressable market by inking a deal with Canadian Carma Hospitality Group. Carma will use MicroSalt in its 12 restaurants across Montreal.

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Although MicroSalt’s growth strategy is largely in the B2B market and assists food manufacturers in reformulating their products to reduce sodium content, today’s announcement endorses the company’s product in that it illustrates the broad range of end customers.

Rick Guiney, CEO of MicroSalt said:

“Inclusion of our low sodium solution with the Carma Hospitality Group is a great endorsement of our ability to provide a low sodium yet tasty solution. It demonstrates the wide appeal of Microsalt and offers a real-world example of our potential in the foodservice channel. The restaurants within the Carma Hospitality Group represent some of the best food establishments in Montreal and we are extremely proud to be affiliated with their culinary team. We also expect that this [relationship with/endorsement by] Carma will result in other restauranteurs embracing our critically needed product.”

Carma’s co-founder was equally upbeat about the relationship and was pleased to adopt MicroSalt’s innovations.

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“Our use of Microsalt underscores our commitment to excellence, and innovation. We are proud of our ability to use leading technology applications in our kitchens to ensure the absolute best and unforgettable dining experiences,” said Co-founder of Carma, Mike Zaki.

MicroSalt shares were 7% higher at the time of writing.

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