Stran & Company, Quincy, Massachusetts, announced the completion of its acquisition of the assets and business of Trend Brand Solutions under its previously announced asset purchase agreement. As contemplated under the agreement, Stran also announced that Michael Krauser, CEO of Trend, has become regional vice president of Stran, where he will lead the company's Texas region operations. As further contemplated by the asset purchase agreement, the company entered into employment agreements with all Trend sales representatives.
"We remain committed to our M&A growth strategy, targeting acquisitions that are highly synergistic with our existing operations, and support the expansion of our products and services into new geographies," said Stran President and CEO Andy Shape. "With this acquisition, we are broadening our presence in the South and entering the Houston market, which ranks third among metro areas in Fortune 500 headquarter locations, and is home to two dozen Fortune 500 companies. Additionally, we are thrilled to have Michael join the team as our regional vice president given his success with Trend, as well as delighted to welcome the entire Trend team to the Stran family. We are excited to have executed this agreement and look forward to benefiting from the tremendous talent within their organization."
Trend is a leading global brand solutions company strategically headquarters in Tomball, Texas. Trend has a demonstrated record of delivering on customers' brand marketing needs and developing solutions that are creative, original, dependable, cost-effective, and that meet or exceed product safety standards.
Formed in 2010, Trend has evolved with the changing needs of customers within the promotional products industry by eliminating common barriers and obstacles through use of its proprietary technologies solution, SMART BUY custom buying sites. Trend is vertically integrated to deliver efficiency and convenience to each client relationship. Annually, Trend builds more than 100 SMART BUY sites, while managing more than 35,000 website transactions and shipping more than 8,000 orders from inventory. Trend ships globally from its Houston area distribution center, and has international factory partnerships to source as close to the end-user as possible.
Additional details of the transaction will be included in Stran's Form 8-K to be filed with the SEC, and will be available at www.sec.gov.
The preceding press release was provided by a company unaffiliated with Print+Promo. The views expressed within do not directly reflect the thoughts or opinions of Print+Promo.