Dec 7 2010
Inergetics, Inc. (OTCBB:NRTI), a leader in targeted product development for the Clinical Nutrition and Sports Supplement Markets, today announced that the Company has entered into a Product Development Agreement with Muscle Maker Grill, one of the country's fastest growing health-food franchises, to be the exclusive provider of "Muscle Maker Ultra Pro, powered by Inergetics," a powdered proprietary nutritional product to be used in various platforms in Muscle Maker Grill restaurants.
"Muscle Maker Ultra Pro" will be sold nationally throughout the Muscle Maker Grill chain upon Franchisee approval and is scheduled to be complete and ready for sale within 6 months. As outlined in the product development agreement, if all terms are met by both parties, Inergetics and Muscle Maker Grill will engage in a supply contract for a term of 3 years. Inergetics projects minimum revenues generated solely from its proprietary "Muscle Maker Ultra Pro" supplement to increase from $350,000 during the first year of the agreement to $507,000 during the second year and $675,000 during the third year.
Upon the successful product launch of "Muscle Maker Ultra Pro," the chain will consider featuring Surgex® products in the restaurants' nutritional supplement retail space, where it projects sales of half a million units in 2011. This will include the Surgex line extensions and additional formats such as its Ready-To-Drink product line scheduled for release in mid 2011 and would produce additional revenues to those projected for "Muscle Maker Ultra Pro."
Mark Mirken, CEO and Chairman of Inergetics stated, "As we indicated in our recent Wall Street Reporter interview, the Company now has the ability to expand and customize its proprietary formulas for specific demographic profiles. Our partnership with MMG creates both in store product sales and an additional nationwide marketing platform for our products in a rapidly expanding franchise. These locations are both highly trafficked and cater to a consumer clearly focused on enhancing their physical prowess. Here the consumer can both see and taste our great products and purchase them in the store or on either company's websites. We are very confident that this partnership will be very successful and will lead to sales of several variations of our Surgex® products throughout MMG chains nationwide.
Bob Morgan, COO of MMG, said, "We are extremely excited about being able to offer our customers a private labeled protein supplement which we have co-developed with Inergetics. In addition, we can offer the new product both in our stores and online to our highly knowledgeable and rapidly expanding customer base. This is a great opportunity for both companies and we look forward to a long term relationship with Inergetics."