Andina Acquisition III logo

ANDA - Andina Acquisition III News Story

$10.18 0.0  0.2%

Last Trade - 07/05/21

Sector
Financials
Size
Small Cap
Market Cap £176.8m
Enterprise Value £176.7m
Revenue £n/a
Position in Universe 4347th / 6858

Stryve Foods Secures Expanded Retail Distribution Across New Channels in Second Quarter of 2021

Thu 15th April, 2021 1:00pm
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210415:nGNX5x57sb&default-theme=true


Healthy snacking company’s retail footprint accelerating by adding over
4,000 retail locations including Target, Wawa, Costco, and Dollar General

Hits 25,000 store milestone for all Stryve brands once complete 
 in the second quarter of 2021

PLANO, Texas, April 15, 2021 (GLOBE NEWSWIRE) -- Stryve Foods
(https://www.globenewswire.com/Tracker?data=l8BbF9r1cZ5wXppIW3OaQdOm-3R0RhxivkJqmle4Zp29lmJgnK1utZJOWQcJkgcNtyKrZ6pEKA6zOfWNVaho2w==),
LLC (“Stryve” or “the Company”), an emerging healthy snacking platform
disrupting traditional snacking categories and a leader in the air dried meat
snack industry in the United States, today announced that  a series of new
retail locations are expected to begin carrying its products in the second
quarter of 2021, bringing the total number of stores carrying Stryve brands to
approximately 25,000 stores.  The following retailers are expected to begin
carrying Stryve products during the second quarter of 2021:
* Target – Expected to begin carrying Stryve Biltong in select stores in
April 2021
* Wawa – Expected to begin carrying Stryve Biltong chain wide in their
convenience stores in May 2021
* Dollar General – Expected to begin carrying Vacadillos, Stryve’s Carne
Seca brand, in 3,000 stores in May 2021
In addition, in the third quarter of 2021, Costco is expected to begin
carrying Stryve products in select warehouses.

“We are continuing to execute on our growth opportunities, highlighted by
these strategic additions to the portfolio of key retail outlets carrying
Stryve Biltong and Vacadillos products. Target, Wawa, Dollar General, and
Costco are more than just new opportunities for us to introduce our products,
they are complementary leaders in the U.S. that we believe will help further
scale our business,” said Co-CEO and Chief Marketing Officer Jaxie Alt.
“Stryve Foods is ‘Helping America to Snack Better,’ and we are very
pleased to see this retail expansion over the next three months for our
healthy meat snacks.”

Business Combination Agreement with Andina Acquisition Corp. III

On January 28, 2021, Stryve and Andina Acquisition Corp. III (NASDAQ:
“ANDA”) (“Andina”), a publicly-traded special purpose acquisition
company, executed a definitive agreement (the “Business Combination
Agreement”) for a proposed business combination. Upon closing of the
transaction, Andina will become the parent of Stryve and will be renamed
Stryve Foods, Inc.  The combined company is expected to remain listed on the
NASDAQ under the ticker symbol “SNAX”.

More detailed information regarding the proposed transaction is available in
Andina’s public filings with the U.S. Securities and Exchange Commission
(the “SEC”), including Andina’s Current Report on Form 8-K, filed with
the SEC on February 3, 2021, and the Registration Statement on Form S-4 filed
by Andina with the SEC on March 31, 2021.  Copies of this report, this
registration statement, and any other documents filed by Andina with the SEC,
may be obtained, free of charge, at the SEC’s website (www.sec.gov).

About Stryve Foods, LLC

Stryve is an emerging healthy snacking company which manufactures, markets and
sells highly differentiated healthy snacking products that Stryve believes can
disrupt traditional snacking categories. Stryve’s mission is “to help
Americans snack better and live happier, better lives.” Stryve offers
convenient snacks that are lower in sugar and carbohydrates and higher in
protein than other snacks. Stryve offers all-natural, delicious snacks which
it believes are nutritious and offer consumers a convenient healthy snacking
option for their on-the-go lives.

Stryve’s current product portfolio consists primarily of air-dried meat
snack products marketed under the Stryve®, Kalahari®, Braaitime®, and
Vacadillos® brand names. Unlike beef jerky, Stryve’s all-natural air-dried
meat snack products are made of beef and spices, are never cooked, contain
zero grams of sugar, and are free of monosodium glutamate (MSG), gluten,
nitrates, nitrites, and preservatives. As a result, Stryve’s products are
Keto and Paleo diet friendly. Further, based on protein density and sugar
content, Stryve believes that its air-dried meat snack products are some of
the healthiest shelf-stable snacks available today.

Stryve distributes its products in major retail channels, primarily in North
America, including grocery, club stores and other retail outlets, as well as
directly to consumers through its e-commerce websites, as well as direct to
consumer through the Amazon platform.

For more information about Stryve, visit www.stryve.com or follow us on
social media at @stryvebiltong.

Forward Looking Statements
 Certain statements made in this press release are “forward-looking
statements” within the meaning of the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
may be identified by the use of words such as “anticipate”, “may”,
“will”, “would”, “could”, “intend”, “aim”, “believe”,
“anticipate”, “continue”, “target”, “milestone”, “expect”,
“estimate”, “plan”, “outlook”, “objective”, “guidance” and
“project” and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters, including,
but not limited to, statements regarding Stryve’s plans, strategies,
objectives, targets and expected financial performance. These forward-looking
statements reflect Stryve’s current views and analysis of information
currently available.  This information is, where applicable, based on
estimates, assumptions and analysis that Stryve believes, as of the date
hereof, provide a reasonable basis for the information and statements
contained herein.  These forward-looking statements involve various known and
unknown risks, uncertainties and other factors, many of which are outside the
control of Andina, Stryve and their respective officers, employees, agents or
associates. These risks, uncertainties, assumptions and other important
factors, which could cause actual results to differ materially from those
described in these forward-looking statements, include: (i) the occurrence of
any event, change or other circumstances that could give rise to the
termination of the definitive agreement for the proposed business combination
between Andina and Stryve (the “Business Combination Agreement”); (ii) the
inability to obtain or maintain the listing of Andina’s common stock on
Nasdaq following consummation of the transactions contemplated by the Business
Combination Agreement; (iii) the inability to complete the transactions
contemplated by the Business Combination Agreement due to the failure to
obtain approval of the shareholders of Andina or to satisfy other conditions
to closing in the Business Combination Agreement; (iv) the inability to meet
the minimum cash requirements of the Business Combination Agreement due to the
amount of cash available following any Andina shareholder redemptions or  the
inability to consummate a concurrent PIPE financing; (v) the risk that the
proposed business combination disrupts current plans and operations of Stryve
as a result of the announcement and consummation of the transactions
contemplated by the Business Combination Agreement; (vi) costs related to the
proposed business combination; (vii) changes in applicable laws or
regulations; (viii) the ability of the combined company to recognize the
anticipated benefits of the proposed business combination or meet its
financial and strategic goals, which may be affected by, among other things,
competition, the ability of the combined company to pursue a growth strategy
and manage growth profitability, maintain relationships with customers,
suppliers and retailers and retain its management and key employees; (ix) the
risk that retailers will choose to limit or decrease the number of retail
locations in which Stryve’s products are carried or will choose not to carry
or not to continue to carry Stryve’s products; (x) the possibility that
Andina or Stryve may be adversely affected by other economic, business, and/or
competitive factors; (xi) the effect of the COVID-19 pandemic on Andina and
Stryve and their ability to consummate the proposed business combination; and
(xii) other risks and uncertainties described from time to time in the
Registration Statement on Form S-4 filed by Andina with the SEC on March 31,
2021 and amendments thereto, including those under the heading “Risk
Factors” therein as well as other risks and uncertainties discussed from
time to time in other reports and other public filings with the SEC by Andina.

Actual results, performance or achievements may differ materially, and
potentially adversely, from any projections and forward-looking statements and
the assumptions on which those projections and forward-looking statements are
based. There can be no assurance that the data contained herein is reflective
of future performance to any degree. You are cautioned not to place undue
reliance on forward-looking statements as a predictor of future performance as
projected financial information, cost savings, synergies and other information
are based on estimates and assumptions that are inherently subject to various
significant risks, uncertainties and other factors, many of which are beyond
our control. All information herein speaks only as of (1) the date hereof, in
the case of information about Stryve, or (2) the date of such information, in
the case of information from persons other than Stryve. Stryve undertakes no
duty to update or revise the information contained herein. Forecasts and
estimates regarding Stryve’s industry and end markets are based on sources
that Stryve believes to be reliable, however there can be no assurance these
forecasts and estimates will prove accurate in whole or in part.

No Offer or Solicitation
 This press release shall not constitute a solicitation of a proxy, consent or
authorization with respect to any securities or in respect of the proposed
business combination. This press release is for informational purposes only
and shall not constitute an offer to sell or the solicitation of an offer to
buy any securities pursuant to the proposed transactions or otherwise, nor
shall there be any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information and Where to Find It

For additional information on the proposed business combination with Andina,
see Andina’s Current Report on Form 8-K, which was filed with the SEC on
February 3, 2021.

In connection with the proposed transactions with Andina described herein,
Andina has filed a Registration Statement on Form S-4 with the SEC, which
includes a preliminary proxy statement/prospectus of Andina.  Andina will
mail a definitive proxy statement/prospectus and other relevant documents to
its shareholders.

INVESTORS AND SECURITY HOLDERS OF ANDINA ARE URGED TO READ THE REGISTRATION
STATEMENT ON FORM S-4, WHICH WAS FILED WITH THE SEC ON MARCH 31, 2021 AND
INCLUDES A PRELIMINARY PROXY STATEMENT/PROSPECTUS, AND, WHEN AVAILABLE, ANY
AMENDMENTS THERETO, AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS IN
CONNECTION WITH ANDINA’S SOLICITATION OF PROXIES FOR ITS SPECIAL MEETING OF
SHAREHOLDERS TO BE HELD TO APPROVE THE PROPOSED TRANSACTION BECAUSE THE PROXY
STATEMENT/PROSPECTUS CONTAINS AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. THE
DEFINITIVE PROXY STATEMENT/PROSPECTUS WILL BE MAILED TO SHAREHOLDERS OF ANDINA
AS OF A RECORD DATE TO BE ESTABLISHED FOR VOTING ON THE PROPOSED TRANSACTION.

Shareholders will also be able to obtain copies of the Registration Statement,
including the proxy statement/prospectus, the Form 8-K, and any other
documents filed by Andina with the SEC, free of charge at the SEC’s website
(www.sec.gov).

Participants in the Solicitation
 Andina and Stryve and their respective directors, executive officers and
other members of their management and employees, under SEC rules, may be
deemed to be participants in the solicitation of proxies of Andina’s
shareholders in connection with the proposed transaction between Andina and
Stryve. Investors and security holders may obtain more detailed information
regarding the names and interests of Andina’s directors and officers in
Andina’s filings with the SEC, including Andina’s Registration Statement
on Form S-4, which was filed with the SEC on March 31, 2021 and includes a
preliminary proxy statement/prospectus of Andina for the proposed transaction.
Investors and security holders may obtain more detailed information regarding
the names and interests of Stryve’s directors and officers in Andina’s
Registration Statement on Form S-4, which was filed with the SEC on March 31,
2021 and includes a preliminary proxy statement/prospectus of Andina for the
proposed transaction.

Contacts:

ICR

Investor Relations:
 Raphael Gross, (203) 682-8253
 raphael.gross@icrinc.com

Media Relations:
 Eric Becker, (303) 638-3469
 eric.becker@icrinc.com

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/02cfdb12-4d21-4d4f-b30c-9ff7a6a91bc0
Stryve Foods 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/02cfdb12-4d21-4d4f-b30c-9ff7a6a91bc0/en)
Stryve Foods is adding Target, Wawa, Costco and Dollar General retail
distribution for its healthy snacking products, expects to hit 25,000 store
milestone in Q2’2021


GlobeNewswire, Inc. 2021
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.