M&A - Stran & Company, Inc.

Form Type: 10-K

Filing Date: 2025-04-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000121390025031596

Filing Summary: Stran & Company, Inc. experienced notable acquisitions leading to increased market presence and revenue growth. The annual report for the fiscal year ended December 31, 2024, indicates a revenue increase of 8.8% compared to 2023. The report highlights the acquisition of T R Miller Co., Inc. in June 2023 and the purchase of substantially all assets of Bangarang Enterprises, LLC, known as Gander Group, in August 2024, which contributed significantly to the company's growth. Stran & Company has built a strong position in the promotional products industry, focusing on innovative marketing solutions and long-term relationships with its customers. Despite a competitive landscape, the company is recognized for its commitment to quality service and technology integration in marketing strategies. The company's reported total assets reached approximately $55.1 million and total stockholders’ equity was $31.6 million as of December 31, 2024. Stran & Company ranked 20th on PPAI’s Top 100 Distributors 2024 list, affirming its stature in the industry. Challenges pertaining to regulatory changes, economic conditions, and potential competition were also addressed in the report, along with material weaknesses identified in internal controls over financial reporting.

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Form Type: 10-Q

Filing Date: 2025-03-07

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025021742

Filing Summary: Stran & Company, Inc. reported its quarterly financial results for the period ended September 30, 2024. The company experienced a net loss of $2,038,000 for the three-month period, compared to a net income of $1,265,000 in the same period of the previous year. For the nine months ending September 30, 2024, the net loss was $3,554,000, substantially higher than a loss of $143,000 in the previous year. Key changes in the balance sheet included total assets of $48,812,000, a slight decrease from $49,036,000 at the end of 2023. The liabilities increased to $16,509,000 from $13,386,000. The company reported that as of March 3, 2025, it had 18,608,408 shares of common stock outstanding. Additionally, Stran Loyalty Solutions, a wholly-owned subsidiary of Stran & Company, acquired the assets of Gander Group, with this acquisition aimed at enhancing its market capabilities. The transaction is classified as a business combination under accounting rules, indicating a strategic move to expand operations and improve financial performance.

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