Stran & Company Announces Deal To Acquire T R Miller
Stran & Company (PPAI 161542, D10) has announced that it had signed an agreement to purchase distributor T R Miller, Inc. The acquisition is expected to close during the first half of 2023.
T R Miller has been in business for more than 47 years and operates a state-of-the-art decoration, fulfillment and distribution center at its Walpole, Massachusetts, headquarters. In 2022, it generated $19 million in revenue.
- The company’s clients include a Big Four accounting firm, a Fortune 100 insurance provider, a global sportswear manufacturer, a leading beverage and coffeemaker conglomerate and an online food ordering and delivery platform.
The proposed deal is expected to further strengthen Quincy, Massachusetts-headquartered Stran’s industry footprint. It would also expand Stran’s operational and fulfillment capabilities through the addition of T R Miller’s 20,000 square foot distribution and processing center.
In November 2021, Stran announced an initial public offering and would trade on the Nasdaq under the symbol “STRN” – this has since changed to “SWAG.” It has built out its leadership roster and expanded through acquisitions over the last 14 months. Notable moves include:
- In January 2022, Stran announced that it had entered a deal to acquire Gloucester, Massachusetts, distributor GAP Promotions, LLC (PPAI 369784, D1). GAP Promo’s work with numerous beverage and consumer packaged goods companies expanded Stran’s expertise in point of sale, display, racks and more, and bolstered its business in those sectors.
- In July 2022, Stran revealed that it had signed an agreement to acquire Tomball, Texas-based distributor Trend Brand Solutions (PPAI 479548, D1). Not only does the deal expand Stran’s footprint into the South, but Trend Brand Solutions also brought its proprietary technology platform and international partnerships to the table.
- In December 2022, Stran entered an agreement to acquire Premier Business Services in Larchmont, New York. Along with its extensive client roster, the acquisition further establishes Stran in the Northeast.
In Their Words
“We are thrilled to be acquiring T R Miller, our fourth announced acquisition within the past thirteen months, adding a team with deep industry experience and a blue-chip customer base,” says Andy Shape, president and CEO of Stran. “T R Miller brings a dedicated distribution and processing center that significantly expands our operating capabilities.
“We look forward to working closely with Tom Miller, founder [and CEO] of T R Miller and a luminary in the industry, as we come together to become an even more valuable partner to our customers.”
Miller says, “I am excited for T R Miller to be partnering with Stran, an industry leader with a great culture and the capabilities to best serve the high expectations of our customers. It is a rare opportunity to join forces with such a talented and hard-working organization. I believe that together we can drive our clients’ promotional marketing campaigns and programs to new heights and look forward to embarking on this journey together.”