Stran & Company Signs Definitive Agreement to Acquire Trend Brand Solutions
2022年7月14日 - 9:00PM
Stran & Company, Inc. ("Stran" or the "Company")
(NASDAQ: STRN) (NASDAQ: STRNW), a leading outsourced
marketing solutions provider that leverages its promotional
products and loyalty incentive expertise, today announced the
signing of a definitive asset purchase agreement relating to the
acquisition of the assets and business of Trend Brand Solutions
(“Trend”). The agreement contemplates the retention of all Trend
employees and Mr. Michael Krauser, Chief Executive Officer of
Trend, will become Stran’s Regional Vice President, leading Stran’s
Texas region operations. The acquisition is expected to close in
the third quarter of 2022.
Trend is a leading global brand solutions
company strategically headquartered in Tomball, Texas. Trend has a
demonstrated record of delivering on customers’ brand marketing
needs and developing solutions that are creative, original,
dependable, cost-effective, and that meet or exceed product safety
standards. Formed in 2010, Trend has evolved with the changing
needs of customers within the promotional products industry by
eliminating common barriers and obstacles through utilization of
its proprietary technologies solution, SMART BUY custom buying
sites. Trend is vertically integrated to deliver efficiency and
convenience to each client relationship. Annually, Trend builds
over 100 SMART BUY sites while managing over 35,000
website transactions and shipping over 8,000 orders from
inventory. Trend ships globally from its Houston, Texas area
distribution center and has international factory partnerships
to source as close to the end user as possible.
“We are excited to acquire Trend, as they bring
an established platform and customer base,” commented Andy Shape,
President and Chief Executive Officer of Stran. “This agreement to
acquire Trend illustrates our commitment to growth through
meaningful and complementary acquisitions. Trend is a perfect fit
for Stran as it broadens our presence within the South, especially
within the Houston area, which is home to two dozen Fortune 500
companies and ranks third among metro areas in Fortune 500
headquarters locations.1 Given Mike’s demonstrated track record,
along with his team, we are excited to welcome them to the Stran
family and look forward to building on Stran and Trend’s histories
of success in the market.”
Trend’s Mr. Krauser stated, “This is an exciting
time to be joining the Stran team as they have established
themselves as a leader within the industry and are committed to
growth and expansion around the nation. Trend is proud to become
part of this growth and I’m thrilled that I will be leading Stran’s
Texas region to create additional awareness of Stran in this
growing market.”
The closing of the acquisition is subject to
customary closing conditions.
1Source:
https://www.houston.org/houston-data/fortune-500-companies#:~:text=Twenty-four
About Stran
Over the past 27 years, Stran has grown to
become a leader in the promotional products industry, specializing
in complex marketing programs to help recognize the value of
promotional products, branded merchandise and loyalty incentive
programs as a tool to drive awareness, build brands and impact
sales. Stran is the chosen partner of many Fortune 500 companies,
across a variety of industries, to execute their promotional
marketing, loyalty and incentive, sponsorship activation,
recruitment, retention, and wellness campaigns. Stran provides
world-class customer service and utilizes cutting-edge technology,
including efficient ordering and logistics technology to provide
order processing, warehousing and fulfillment functions. The
Company’s mission is to develop long-term relationships with its
clients, enabling them to connect with both their customers and
employees in order to build lasting brand loyalty. Additional
information about the Company is available at: www.stran.com.
Forward Looking Statements
This press release contains “forward-looking
statements” that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“target,” “aim,” “should,” "will” “would,” or the negative of these
words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on the Company’s current expectations and are
subject to inherent uncertainties, risks and assumptions that are
difficult to predict. Further, certain forward-looking statements
are based on assumptions as to future events that may not prove to
be accurate. These and other risks and uncertainties are described
more fully in the section titled “Risk Factors” in the final
prospectus related to the public offering filed with the SEC and
other reports filed with the SEC thereafter. Forward-looking
statements contained in this announcement are made as of this date,
and the Company undertakes no duty to update such information
except as required under applicable law.
Contacts
Investor Relations Contact:
Crescendo Communications, LLCTel: (212)
671-1021STRN@crescendo-ir.com
Press Contact:
Howie Turkenkopf press@stran.com
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