Stryve Foods Shares Jump After Costco and Walmart Distribution Increases for Stryve Biltong and Vacadillos
Dec 16, 2021 By MarketDepth
Stryve Foods, Inc. (NASDAQ: SNAX) jumped about 20% Thursday after the manufacturer, marketer and seller of snacking products announced new agreements for significant 2022 expansion of its domestic U.S. distribution footprint and product line penetration with Costco and Walmart.
Following the recent addition of Costco warehouses in the northwest U.S. region, select Stryve Biltong and Vacadillos products are now available every day at Costco warehouses in Arizona and business centers nationwide, doubling Stryve’s previous Costco distribution. As part of this expansion, Costco will begin carrying the 12 oz. Hickory flavor of Stryve Biltong amongst its healthy and nutritious Stryve and Vacadillos offerings.
“Stryve meat snacks have proven to be strong performers and a terrific fit for Costco and Walmart shoppers and we are delighted to broaden our distribution and marketing relationships with two of the nation’s dominant retailers. Stryve is gaining distribution momentum at major retailers and convenience stores for both its number of doors and SKUs thanks to the popularity and differentiation of our healthy and delicious snacks. Specifically, the opportunity with Costco next year to participate in the MVM nationwide campaign confirms that Stryve’s products and strategy are on point with consumers and retailers alike. This promotion represents an enormous opportunity to drive trial for Stryve with a massive amount of target consumers in a condensed period of time.”Joe Oblas, Co-Founder and Chief Executive Officer
Stryve is an emerging healthy snacking and food company that manufactures, markets and sells highly differentiated healthy snacking and food products that Stryve believes can disrupt traditional snacking and CPG categories. Stryve’s mission is “to help Americans eat better and live happier, better lives.”