Stran & Company Secures Major Contract with Leading North American Infrastructure Services Company

Rhea-AI Summary

Stran & Company (NASDAQ: STRN, STRNW) announced a significant contract with a North American infrastructure services company to provide promotional products, set to launch in Q4 2022. This program is projected to generate over $1 million annually, enhancing company revenue and market presence. CEO Andy Shape highlighted the contract's potential to increase customer loyalty and market awareness, indicating strong growth prospects. The new client was referred by an existing customer, underscoring Stran's service quality and effectiveness in delivering high-margin revenue opportunities.

Positive

• Secured a major contract expected to generate over $1 million annually.
• New client acquisition through a referral from an existing customer, indicating strong service quality.
• Anticipated launch of the promotional program in Q4 2022, contributing to revenue growth.

Negative

• None.

Quincy, MA, Sept. 16, 2022 (GLOBE NEWSWIRE) -- 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 that it has secured a major contract with a leading North American infrastructure services company to provide promotional products and services. The program is expected to launch in the fourth quarter of 2022 and is projected to generate over $1 million annually.

Andy Shape, President and CEO of Stran, commented, “We are pleased to have been selected by this premier infrastructure services company to execute on their promotional marketing program with a goal of increasing their market awareness and customer loyalty. This client came as a referral from an existing customer of ours, which we believe further validates the quality of our service-based offering and clear value proposition. We look forward to working closely with this new customer and anticipate this contract will drive meaningful high margin annual revenue for Stran with potential expansion opportunities.”

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, LLC
Tel: (212) 671-1021
STRN@crescendo-ir.com

Press Contact:

Howie Turkenkopf
press@stran.com

FAQ

What is the recent contract announcement by Stran (STRN, STRNW)?

Stran announced a major contract to provide promotional products to a leading North American infrastructure services company, projected to generate over $1 million annually.

When is the promotional products program expected to launch?

The promotional products program is expected to launch in the fourth quarter of 2022.

How does the new contract impact Stran's revenue?

The contract is projected to generate over $1 million annually, which is expected to enhance Stran's revenue and market presence.