Tekcapital (LON: TEK), the UK-based investment firm, has seen its shares rally after its portfolio company, Salarius' subsidiary, MicroSalt, has been accepted for a roll-out of its SaltMe! crisps in one of the largest supermarket chains in North America.
While the supermarket was not named, the company said it anticipates the SaltMe! crisps will be available in more than 800 of their stores in 2022.
Tekcapital stated that it is a significant move for Salarius as the crisps are expected to become a national brand in the low-sodium-full flavour snack category.
In addition, they also believe Salarius will have a stronger go-to-market success story to present to other key accounts, and the MicroSalt brand could be elevated to a national-level ingredient.
“We're excited to launch our SaltMe! snacks into national distribution with one of the leading supermarket chains in the U.S.,” said Victor Hugo Manzanilla, CEO of MicroSalt.Â
“This is a major milestone for the Company and one that we believe will lead to reduced sodium consumption for customers nationwide,” he added.Â
Tekcapital shares saw a strong move on the back of the announcement, climbing to a high of 27p. However, some of that initial momentum has been lost, and it is currently trading at 25.5p, up 6.31%.
Should you invest in Tekcapital shares?
Tekcapital shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are TEK shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies