Stran Strengthens Market Position with Strategic Acquisition
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Stran & Company, Inc. Announces Acquisition of Gander Group Assets
Stran & Company, Inc. (NASDAQ: SWAG) (NASDAQ: SWAGW), a prominent player in the outsourced marketing solutions sector, has announced a significant step forward with the acquisition of certain assets and liabilities from Bangarang Enterprises, LLC, doing business as Gander Group. This acquisition comes as part of a secured party sale initiated by Gander Group’s senior financing facility.
Strategic Growth in Gaming and Entertainment
The strategic acquisition will be carried out through Stran’s newly formed subsidiary, Stran Loyalty Solutions, LLC. Gander Group will function as an integral part of Stran Loyalty Solutions, expanding the Company's Casino Continuity and Loyalty division. This transaction is poised to bolster Stran's foothold in the gaming, casino, and entertainment sectors.
Establishing a Strong Track Record
Gander Group, recognized for its innovative casino continuity and loyalty programs, has a successful history within the industry, generating over $34 million in revenue recently. Their established reputation for supporting leading casinos and premier brands presents Stran with remarkable opportunities for synergy and growth.
Expertise and Leadership Joining Stran
As part of the acquisition, key personnel from Gander Group, including Josh Blake, Chief Executive Officer and founder, along with Chief Operating Officer Bruce Batcheller, will join Stran Loyalty Solutions. Their expertise and industry insights are expected to enhance Stran's operational capabilities within the Casino Continuity and Loyalty group.
Enhancing Stakeholder Value
Andy Shape, CEO of Stran, emphasized the critical nature of this acquisition, stating, "Gander Group's industry-leading solutions align seamlessly with our extensive range of promotional products. This strategic move is not only about expanding our market presence but also about increasing the value we provide to our clients across various sectors. After the acquisition, our projected annualized revenue run rate is expected to exceed $100 million, indicating a robust path to positive cash flow and shareholder returns."
Benefits to Casino and Entertainment Clients
Josh Blake expressed enthusiasm about the merger, indicating that the sale will empower Gander Group's clients with unmatched resources and expertise. The integration with Stran is anticipated to enable Gander Group to enhance its established foundation and provide even greater service to its clientele.
Company Overview
Stran has established itself as a leader in the promotional products domain for over 29 years. Specializing in intricate marketing initiatives, Stran aids organizations in recognizing the value of promotional merchandise and loyalty programs, ultimately aimed at elevating brand awareness and driving sales. The Company caters to numerous Fortune 500 entities across diverse industries, focusing on promotional marketing, loyalty incentives, sponsorships, and employee engagement initiatives.
Commitment to Client Relationships
Stran's mission revolves around fostering long-term relationships with clients, which facilitates significant connections between businesses, their customers, and employees. This approach fosters enduring brand loyalty and reinforces Stran's reputation for exemplary customer service and state-of-the-art technology for order processing, logistics, warehousing, and fulfillment.
Frequently Asked Questions
What is the significance of Stran's acquisition of Gander Group?
The acquisition enhances Stran’s market share in the gaming and entertainment industries, providing new revenue streams and operational efficiencies.
Who will be joining Stran from Gander Group?
Josh Blake, the CEO of Gander Group, and COO Bruce Batcheller will transition to Stran Loyalty Solutions, bringing their expertise.
What financial impact is expected from this acquisition?
Stran projects that its annualized revenue run rate will exceed $100 million, contributing positive cash flow post-acquisition.
How long has Stran been in the promotional products industry?
Stran has been successfully operating in the promotional products industry for over 29 years, building a strong reputation.
What are Stran's core services?
Stran specializes in comprehensive marketing programs leveraging promotional products, branded merchandise, and loyalty incentive initiatives to drive awareness and sales.
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