Stran & Company (asi/337725), a Top 40 distributor, has signed an agreement to acquire T.R. Miller Co. Inc. (asi/272250) – a branded merchandise provider that generated fiscal-year 2022 revenue of about $19 million, executives said. The acquisition is expected to close in the first half of 2023.

Quincy, MA-based Stran said that Walpole, MA-headquartered T.R. Miller has a 47-year history. Its client roster includes a “big four” accounting firm, Fortune 100 insurance provider (Liberty Mutual), global sportswear manufacturer, leading beverage and coffeemaker conglomerate (Keurig), and an online food ordering and delivery platform (Grubhub).

Andry Shape, Stran & Company

T.R. Miller operates a 20,000-square-foot decoration, fulfillment and distribution center. Stran expects this will help enhance operational and fulfillment capabilities.

“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,” said Stran President/CEO Andy Shape, a member of Counselor’s Power 50 list of promo’s most influential people.

Tom Miller, founder of T.R. Miller, is continuing with the firm. “We look forward to working closely with Tom as we come together to become an even more valuable partner to our customers,” Shape said. 

Miller is excited about what lies ahead with Stran. “It is a rare opportunity to join forces with such a talented and hard-working organization,” Miller said. “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.”

There was a flurry of #acquisitions in the #promoproducts industry in 2022 and the first couple weeks of 2023. What's driving all the deals? Will they continue? https://t.co/1FNsrxMGrD @asicentral @Tim_Andrews_ASI @ASI_MBell

— Chris Ruvo (@ChrisR_ASI) January 17, 2023

Stran became a publicly traded company in late 2021. As Shape noted, the firm has been aggressive about making strategic acquisitions. Stran closed on  Premier Business Services (Premier NYC, asi/298487) in December 2022. Other key acquisitions include purchasing Gloucester, MA-based GAP Promotions (asi/199882) and Houston-area Trend Brand Solutions (asi/346428).

The deals have been part of what industry executives say has been a broader trend of increased mergers and acquisitions in the promo products market over the last 18 months or so.

Based on reported 2021 North American promo product revenue of $47.3 million, Stran & Company ranked 34^th on Counselor’s most recent list of the largest distributors in the industry. Stran’s sales were up 50% through the first three quarters of 2022, but the firm experienced a net loss as costs tied to factors like acquisitions and going public mounted.