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Stran Buys Gander Assets
2024-08-26 21:54
09:54 AM EDT, 08/26/2024 (MT Newswires) -- Stran (SWAG, SWAGW) said Monday that it had acquired the assets and assumed some liabilities of Bangarang Enterprises, doing business as Gander, through a secured party sale launched by the holder of Gander's senior financing facility.
Financial details of the deal were not provided.
Stran said Gander generated over $34 million in revenue last year.
Stran said its unit, Stran Loyalty Solutions, handled the deal, and Gander will be operated as part of Stran's newly formed casino continuity and loyalty segment.
Stran said it expects its annualized revenue run rate to exceed $100 million, the purchase will generate positive cash flow, and the deal will be accretive for stockholders.
Stran shares were up 2.5% in recent trading.
Price: 1.26, Change: +0.05, Percent Change: +4.13
