Tekcapital has issued an update on the commercial progress at MicroSalt as the food technology company gears up for its London IPO.
MicroSalt appointed Zeus Capital as their NOMAD last year and Tekcapital has alluded to their portfolio company listing in 2023. A specific date is yet to be confirmed.
Tekcapital owns 97% of the share capital of MicroSalt Ltd and 78% of MicroSalt Inc, its U.S. subsidiary.
MicroSalt Expands US Retail Network
MicroSalt has bolstered its US footprint with placements in 51 Fine Fare stores, 8 Trade Fair stores and 72 Big Y stores. The placements were facilitated through MicroSalt’s agreement with US Salt.
“We are proud of our partnership with US Salt to build product distribution as it underscores the retail need for full flavor, low-sodium products. Excess sodium consumption is one of the leading contributors to hypertension, and partnerships like this are the best way to provide consumers with great tasting products with less sodium,” said Rick Guiney, CEO of MicroSalt.