Stran & Company Completes Acquisition of Premier NYC
December 21 2022 - 8:30AM
Stran & Company, Inc. ("Stran" or the "Company")
(NASDAQ: SWAG) (NASDAQ: SWAGW), 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 Premier Business
Services, an established promotional products business started by
Peter Poser in 1988 and based in Larchmont, New York (“Premier
NYC”), under its previously-announced asset purchase agreement.
Andy Shape, President, and CEO of Stran,
commented, “We remain committed to our M&A growth strategy, and
with over 30 years of experience in the promotional products
industry, we expect Premier NYC to complement our capabilities and
customer base. Moreover, this acquisition is expected to
further establish our brand in the Northeast. Premier NYC has
developed a reputation for creative, timely, and accurate delivery
of promotional products. In addition, Premier NYC's customers
include one of the largest global stock exchanges, an Ivy League
university, several of the largest U.S. and international law
firms, and more. Consistent with our prior acquisitions, we
look forward to leveraging our technology and sales infrastructure
to help accelerate the growth and improve operating efficiency of
this business.”
Mr. Shape continued, “Overall, 2022 has been a
transformative year for the Company, starting with the G.A.P.
Promotions assets acquisition in February, followed by our assets
acquisition of Trend Brand Solutions in August, and rounding out
the year with this latest acquisition. We remain committed to
growing Stran both organically and through accretive acquisitions
and we believe that this growth strategy will help drive value for
shareholders in 2023 and beyond.”
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 promotional programs manager 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 Company’s
periodic reports which are filed with the Securities and Exchange
Commission. 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) 671-1021SWAG@crescendo-ir.com
Press Contact:Howie Turkenkopf press@stran.com
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