Stran & Company Completes Acquisition of Trend Brand Solutions
2022年9月1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
completion of its acquisition of the assets and business of
Trend Brand Solutions under its previously-announced asset purchase
agreement. As contemplated under the agreement, the Company also
announced that Mr. Michael Krauser, Chief Executive Officer of
Trend, has become Regional Vice President of Stran, where he will
lead the Company’s Texas region operations. As further contemplated
by the asset purchase agreement, the Company entered into
employment agreements with all retained Trend sales
representatives.
“We remain committed to our M&A growth
strategy, targeting acquisitions that are highly synergistic with
our existing operations and support the expansion of our products
and services into new geographies. With this acquisition, we are
broadening our presence in the South and entering the Houston
market, which ranks third among metro areas in Fortune 500
headquarter locations and is home to two dozen Fortune 500
companies,1” commented Andy Shape, President and CEO of Stran.
“Additionally, we are thrilled to have Michael join the team as our
regional Vice President given his success with Trend as well as
delighted to welcome the entire Trend team to the Stran family. We
are excited to have executed this agreement and look forward to
benefiting from the tremendous talent within their
organization.”
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.
Additional details of the transaction will be
included in the Company’s Form 8-K to be filed with the Securities
and Exchange Commission, and will be available at www.sec.gov.
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
Stran (NASDAQ:STRNW)
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Stran (NASDAQ:STRNW)
過去 株価チャート
から 6 2023 まで 6 2024