Tekcapital shares rose in early trade on Tuesday after their portfolio company MicroSalt announced their low-sodium salt shakers will be stocked in additional stores in the US.
MicroSalt will partner with Giant Foods who operates 160 stores across the Delaware, Washington DC, Maryland, and Virginia. Giant Foods’ current product mix is aligned with MicroSalt’s mission to provide healthy low-sodium salt shakers that can help fight cardiovascular disease.
The Giant Food’s partnership adds to a recent commercial agreement with Prestly Foods and expands their footprint across US retail outlets. MicroSalt are stocked in over 2,000 Kroger supermarkets in the US.
Tekcapital shares jumped 5% to 18.8p following the announcement on Tuesday.
“We are extremely excited that Giant has joined with us to provide low sodium solutions to its customers. This is a tremendous step in our march toward reducing excess sodium consumption. Our MicroSalt shakers empower consumers to salt their food to taste with less sodium,” said Rick Guiney, CEO of MicroSalt.
MicroSalt are gearing up for an IPO this year after appointing Zeus Capital as their NOMAD for an AIM listing.