Business
Byrna Technologies Partners with Distributor Outdoor Investment Holdings
ANDOVER, Mass., May 12, 2022 /PRNewswire/ -- Byrna Technologies Inc. (NASDAQ: BYRN) ("Byrna", "the Company", "we" or "us") is pleased to announce that we have
About this update from Byrna Technologies, Inc.
[{"type":"text","content":"ANDOVER, Mass., May 12, 2022 /PRNewswire/ -- Byrna Technologies Inc. (NASDAQ: BYRN) (\"Byrna\", \"the Company\", \"we\" or \"us\") is pleased to announce that we have selected Outdoor Investment Holdings (OIH) as our exclusive distribution partner for the South African consumer and dealer markets. \n\n \n \n \n \n \n \n\n \nOutdoor Investment Holdings (OIH) is one of the best known and most widely respected participants in the South African outdoor industry. Through its distribution subsidiaries, Formalito and Inyathi Sporting Supplies, OIH represents such well-known international brands as Browning, Winchester, Smith & Wesson, Fiocchi, Hornady, and Crimson Trace. With the addition of the Byrna range of less-lethal launchers and ammunition to its product offering, OIH will now be able to offer consumers a truly effective less-lethal option that can be purchased without a license or waiting period. \nFormalito and Inyathi will carry the complete range of Byrna launchers including the Byrna SD, Byrna TCR and Byrna Mission-4 as well as ammo and accessories. Formalito is the largest and most trusted outdoor distribution business in South Africa. In continuous operation for 58 years, Formalito services more than 680 retail locations throughout the Southern African countries. While only ten years old, Inyathi has experienced exponential sales growth and now services more than 400 retail locations.\nUnder the terms of the distribution agreement, OIH has committed to purchasing a minimum of 15,000 Byrna launchers along with associated ammo and accessories over the next twelve months and 18,500 launchers in the subsequent twelve-month period. To ensure adequate stock for their customers, OIH, through its distribution subsidiaries, Formalito and Inyathi, has placed an initial stocking order for 6,000 Byrna launchers and associated ammo and accessories. \nMarco van Niekerk, CEO of OIH, stated that \"OIH is extremely excited to partner with Byrna Technologies, the leader in less-lethal personal self-defense. By carrying the Byrna range of self-defense products, our retail partners will be able to offer their customers safe and effective non-lethal products that can be purchased without a license or waiting period. On a personal note, I am particularly pleased to be able to support a South African based company, Byrna South Africa, and to br...