Stryve Foods Lands Nearly 8,000 Convenience Store Order for Standing Floor Displays with 7-Eleven for Three Flavors of Vacadillos

Rhea-AI Summary

Stryve Foods (NASDAQ: SNAX) announced a record new distribution agreement with 7-Eleven, bringing three flavors of its Vacadillos air-dried meat snacks to nearly 8,000 stores in the U.S. The flavors include Chile Lime, Habanero, and Scorpion. Scheduled for availability in February 2022, this order includes a standing floor display to boost visibility. Additionally, Stryve's Biltong products are expanding into more than 2,800 Speedway convenience stores. The meat snacks category in convenience stores has grown by an impressive 343% since 2020.

Positive

• Record distribution agreement with 7-Eleven for Vacadillos products.
• Inclusion of products in 8,000 stores, enhancing brand visibility.
• Significant growth in the meat snacks category, achieving 343% increase since 2020.

Negative

• None.

Record New Sale Placed for Popular Brand; Healthy Air-Dried Meat Snacks Will Be Available in Early February with Chile Lime, Habanero and Scorpion

Adds Distribution of Two Stryve SKUs in the 2,800+ Speedway Convenience Stores Recently Acquired by 7-Eleven

Stryve and Vacadillos Capitalizing on Accelerating Momentum in Meat Snacks Category Sales at Convenience Stores with Industry-Leading 343% Growth vs 2020

PLANO, Texas, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Stryve Foods, Inc. (NASDAQ: SNAX) (“Stryve” or “the Company”), an emerging healthy snack and eating platform disrupting traditional consumer packaged goods (CPG) categories, and a leader in the air-dried meat snack industry in the United States, announced a major new distribution agreement with 7-Eleven, the world's largest convenience retailer with more than 77,000 stores worldwide, that will bring three flavors of its popular Vacadillos carne seca air-dried meat snacks for the first time to nearly 8,000 7-Eleven domestic convenience stores, a record new sale for the product.

The nationwide order from 7-Eleven comes with a commitment for a standing floor display that will showcase prominently three Vacadillos flavors - Chile Lime, Habanero and Scorpion. The meat snacks will be shipped in January 2022 and will be available in stores by February.

Stryve is also expanding its existing business with 7-Eleven. Stryve’s 2.25 oz Stryve Original Biltong and 2.25 oz Stryve Spicy Peri Peri Biltong are gaining distribution at the more than 2,800 Speedway convenience stores recently acquired by 7-Eleven in the United States.

Stryve and Vacadillos sales are the fastest growing for the meat snacks category in U.S. convenience stores, with 343% incremental yearly revenue growth*.

“Stryve’s new record high Vacadillos sales order in approximately 90% of 7-Eleven’s U.S. convenience stores and Stryve Biltong product expansion into 7-Eleven’s recently acquired Speedway convenience stores represents the latest terrific opportunities and proving grounds for Stryve products,” said Joe Oblas, Co-Founder and Chief Executive Officer of Stryve. “Vacadillos standing floor display placements typically correlate strongly with future permanent distribution in most retail locations we have placed them to-date, driving sales velocity, trial, branding awareness and consumer engagement.”

Oblas continued, “Our portfolio of healthy, delicious, air-dried meat snacks from Stryve Biltong and Vacadillos are building sales momentum and popularity with consumers from coast to coast, with record growth that is dominating the category and the benchmark for the lucrative meat snacks category.”

About Stryve Foods, Inc.

Stryve is an emerging healthy snacking and food company that manufactures, markets and sells highly differentiated healthy snacking and food products that Stryve believes can disrupt traditional snacking and CPG categories. Stryve’s mission is “to help Americans eat better and live happier, better lives.” Stryve offers convenient products that are lower in sugar and carbohydrates and higher in protein than other snacks and foods.

Stryve’s current product portfolio consists primarily of air-dried meat snack products marketed under the Stryve^®, Kalahari^®, Braaitime^®, and Vacadillos^® brand names. Unlike beef jerky, Stryve’s all-natural air-dried meat snack products are made of beef and spices, are never cooked, contain zero grams of sugar, and are free of monosodium glutamate (MSG), gluten, nitrates, nitrites, and preservatives. As a result, Stryve’s products are Keto and Paleo diet friendly. Further, based on protein density and sugar content, Stryve believes that its air-dried meat snack products are some of the healthiest shelf-stable snacks available today.

Stryve distributes its products in major retail channels, primarily in North America, including grocery, club stores and other retail outlets, as well as directly to consumers through its e-commerce websites and through the Amazon platform.

For more information about Stryve, visit www.stryve.com or follow us on social media at @stryvebiltong.

Forward Looking Statements

Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “may”, “will”, “would”, “could”, “intend”, “aim”, “believe”, “anticipate”, “continue”, “target”, “milestone”, “expect”, “estimate”, “plan”, “outlook”, “objective”, “guidance” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including, but not limited to, statements regarding Stryve’s expected performance or its ability to obtain permanent distribution channels. These forward-looking statements reflect Stryve’s current views and analysis of information currently available. This information is, where applicable, based on estimates, assumptions and analysis that Stryve believes, as of the date hereof, provide a reasonable basis for the information and statements contained herein. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those projections and forward-looking statements are based.

* Source: SPINS | CONVENIENCE, Data Ending 11/28/21 (no sticks).

Contacts:

ICR Investor Relations:
Raphael Gross, (203) 682-8253
raphael.gross@icrinc.com

ICR Media Relations:
Eric Becker, (303) 638-3469
eric.becker@icrinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/58454afe-e2f4-4697-a7fe-4d53f581178d

FAQ

When will Stryve's Vacadillos snacks be available in 7-Eleven stores?

Stryve's Vacadillos snacks will be available in 7-Eleven stores starting February 2022.

What flavors of Vacadillos will be sold at 7-Eleven?

The flavors available at 7-Eleven will be Chile Lime, Habanero, and Scorpion.

What is the growth rate of the meat snacks category mentioned by Stryve?

The meat snacks category has seen a remarkable growth rate of 343% since 2020.

How many Speedway stores will Stryve's products be distributed to?

Stryve's products will be distributed in over 2,800 Speedway convenience stores.