Tekcapital’s portfolio company MicroSalt announced a partnership with ready meal provider Presty on Thursday and marked another another step in the roll-out of their low-sodium salt products.
The partnership will yield a significant product offering in the low-sodium ready meal market and see MicroSalt’s products reach more end customers.
Presty produces their healthy and diverse range of ready meals from a facility in France specifically for the US market’s taste.
The partnership is eyeing a global ready meals which was valued at US$138 billion in 2021, and is expected to reach $408 billion by 2031.
“We are proud to work with Presty! Foods in their efforts to offer low-sodium solutions to their customer base. We view Presty as a thought leader in offering lower sodium as an active option in its ingredient listing. Excess sodium consumption is a leading contributor to hypertension and cardiovascular disease, and partnerships like this are the best way to make a difference in our efforts to address the sodium crisis,” said Rick Guiney, CEO of MicroSalt®.
Founded in 2018, MicroSalt is 97% owned by Tekcapital. Having floated already their portfolio companies Belluscura and Lucyd, Tekcapital CEO Dr Clifford Gross alluded to a potential MicroSalt IPO in early 2023 in a recent Podcast with Kemeny Capital.
Tekcapital shares rose following the release on Thursday.
