Plano, Texas-based Stryve Foods Inc. shared details for boosting its manufacturing capacity of its Stryve Biltong and Vacadillos Carne Seca meat snack product lines.
Leveraging the $35 million raised in a private placement transaction, Stryve has bolstered its primary manufacturing facility in Madill, Oklahoma and is planning to build and procure other facilities in 2022. Stryve is also investing in product innovation, supply chain improvements and expanding its marketing initiatives.
“With 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 CEO at Stryve.
“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.”
Oblas continued further by stating that “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 Foods 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.”
Through its capital raise in January, Stryve Foods has fortified its strong balance sheet and can now make the strategic investments necessary to scale the business and supply its rapidly growing national customer base, according to Oblas.
Stryve’s current product portfolio consists primarily of air-dried meat snack products marketed under the Stryve, Kalahari, Braaitime and Vacadillos brand names. Stryve Foods’ 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, 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 Foods believes that its air-dried meat snack products are some of the healthiest shelf-stable snacks available today.
Stryve Foods 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 and through the Amazon platform.
For more information, visit stryve.com.
