Stran & Company Announces Definitive Agreement to Acquire

GAP Promo generated over $7 million in sales in 2020 and the acquisition is expected to be highly accretive

Acquisition Expands Stran’s Reach in Beverage and Consumer Packaged Goods Sectors

Quincy, MA, Jan. 26, 2022 (GLOBE NEWSWIRE) — Stran & Company, Inc. (“Stran” or the “Company”) (NASDAQ: STRN) (NASDAQ: STRNW), a leading provider of outsourced marketing solutions that leverages its promotional products and loyalty incentive expertise , today announced the signing of a definitive agreement to acquire GAP promotions, SARL (“GAP Promo”) in connection with an asset purchase transaction. The acquisition is expected to close in the first quarter of 2022 and is subject to customary closing conditions.

Based in Gloucester, Massachusetts, GAP Promo is a full-service promotional agency that designs, researches and develops custom branding solutions for many of the world’s leading beverage and consumer packaged goods companies. GAP Promo had sales of $7.4 million in 2020 and has been profitable since its inception in 2006.

GAP Promo’s expertise in points of sale, displays, shelving, etc. strengthens Stran’s beverage and consumer packaged goods businesses. Stran’s expertise in sourcing and product development, technology, logistics and fulfillment offers GAP Promo customers a broader range of new services and capabilities. The combined knowledge and capabilities should generate growth opportunities among existing customers of both organizations, as well as help attract new customers. Gayle Piraino, Founder and President of GAP Promo, will continue with the company to lead the new GAP Promo business. Stran will also retain all current GAP Promo employees.

Andy Shape, President and CEO of Stran, said, “We have long admired the work of GAP Promo, as their design and execution of branded merchandise programs and innovative custom displays is top notch. Gayle and her team have built a great business by focusing on delivering brand-relevant experiences to customers. Additionally, their client portfolio consists of leading beverage and consumer packaged goods companies, which we believe will be highly complementary to our existing business. We are delighted to build on their success and are confident that through our combined offerings we can provide an even more compelling and comprehensive service offering to our customers. Importantly, we expect this transaction to be highly accretive given GAP Promo’s track record of profitability and anticipated economies of scale.

Gayle Piraino, Founder and President of GAP Promo, said, “We are thrilled to join the Stran family. We believe that Stran’s focus on providing complete solutions to its customers will help our team become even more valuable to our current customers. Our two teams are well aligned to continue growing our beverage and consumer packaged goods businesses. »

Additional details of the transaction are included in the company’s Form 8-K filed today with the Securities and Exchange Commission, which is available at: www.sec.gov.

About the GAP Promotion
GAP Promo is a full-service promotions agency that helps some of the world’s largest companies increase brand awareness and increase sales. GAP Promo designs, researches and develops premium branded product programs and innovative custom displays. GAP Promo is a certified women-owned business. Additional information about the Company is available at: https://www.gappromo.com/

About Stran
Over the past 25 years, Stran has become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products, branded products and incentive programs to loyalty as a tool for raising awareness, branding and impact. Sales. Stran is the partner of choice for many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, referral activation, recruiting, retention and wellness campaigns. Stran provides world-class customer service and uses state-of-the-art 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 customers, enabling them to connect with both their customers and employees 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 in this press release can be identified by the use of words such as “anticipate”, “believe”, “contemplate”, “could”, “estimate”, “expect”, “have the ‘intent’, ‘seek,’ ‘may’, ‘could’, ‘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 uncertainties, risks and inherent assumptions which are difficult to predict.In addition, certain forward-looking statements are based on assumptions about future events which may not prove to be accurate.These and other risks and uncertainties are described in more detail in the section entitled “Risk Factors” of the final prospectus relating to the public offering filed with the SEC and other es reports subsequently filed with the SEC. are made as of this date, and the Company undertakes no obligation to update this information, except as required by applicable law.