Stryve Foods is making great strides to strengthen its hold in the meat snacking category as it revealed a major expansion to its network. Recently, the brand shared it completed the first expansion of its primary Stryve Bilton and Vacadillos Carne Seca manufacturing facility ahead of schedule. With this in place, it too increased the manufacturing capacity of both meat snack product lines.
“With [the] increased focus in the U.S. on health and wellness, Stryve is experiencing strong consumer and retailer demand for its healthy meat snacks. The time is right for Stryve to invest in its future, so we are taking bold steps to meet market demand and prepare for what we believe will be a very bright future,” said Joe Oblas, Co-Founder and Chief Executive Officer at Stryve.
To do so, the company leveraged $35 million raised last month in a private placement transaction to bolster its primary manufacturing facility in Madill, Oklahoma. Additionally, noted the release, the company is planning to build and/or procure other facilities during 2022.
“The first major step was to expand the drying capabilities at our primary factory, which significantly increases drying capacity ahead of the large distribution expansions previously announced with Costco, Walmart, and Target, among others,” added Oblas. “This was completed ahead of schedule and within budget. Second, we have located a site to consolidate our fulfillment operations that will further enable Stryve to expand capacity and capture efficiencies by locating our corporate offices, e-commerce fulfillment, and wholesale fulfillment under one roof. Lastly, Stryve is working on developing additional manufacturing capabilities in-house that can support diversified growth initiatives in the future.”
Stryve noted in the release that it is investing in product innovation, supply chain improvements, and expanding its marketing initiatives to further strengthen its standing and capabilities. With all these expansions and movements in place, the brand is setting itself up for immense growth.
“Earlier this year, we put together a plan to position ourselves for long-term growth and success,” Oblas concluded. “Through our capital raise in January, Stryve has fortified its strong balance sheet and can now make the strategic investments necessary to scale the business and supply our rapidly growing national customer base.”
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