Atlantic International Corp. Expands $11 Million Partnership with Food Production Leader, Aiming for 25% Growth and New Locations
Atlantic International Corp. (OTC: ATLN) has announced a significant expansion of its partnership with a leading food production company through its subsidiary, Lyneer Staffing Solutions. The extended collaboration, valued at $11 million with potential for a 25% increase to $13.75 million, builds on an existing long-term relationship with annual renewals.
The partnership extension includes additional locations and represents an annual spend of $10 million. This expansion marks a important milestone in Lyneer's growth within the food production industry, reinforcing its position as a trusted workforce solutions provider. Both Todd McNulty, CEO of Lyneer Staffing Solutions, and Jeffrey Jagid, CEO of Atlantic International, expressed enthusiasm about the expanded relationship and its alignment with the company's strategic growth objectives.
Atlantic International Corp. (OTC: ATLN) ha annunciato una significativa espansione della sua partnership con un'importante azienda di produzione alimentare attraverso la sua sussidiaria, Lyneer Staffing Solutions. La collaborazione estesa, valutata 11 milioni di dollari con un potenziale aumento del 25% fino a 13,75 milioni di dollari, si basa su una relazione a lungo termine esistente con rinnovi annuali.
L'estensione della partnership include ulteriori sedi e rappresenta una spesa annuale di 10 milioni di dollari. Questa espansione segna una tappa importante nella crescita di Lyneer nel settore della produzione alimentare, rafforzando la sua posizione come fornitore di soluzioni per la forza lavoro fidato. Sia Todd McNulty, CEO di Lyneer Staffing Solutions, sia Jeffrey Jagid, CEO di Atlantic International, hanno espresso entusiasmo riguardo alla relazione ampliata e alla sua coerenza con gli obiettivi strategici di crescita dell'azienda.
Atlantic International Corp. (OTC: ATLN) ha anunciado una expansión significativa de su asociación con una importante empresa de producción de alimentos a través de su subsidiaria, Lyneer Staffing Solutions. La colaboración ampliada, valorada en 11 millones de dólares con potencial para un 25% de incremento hasta 13.75 millones de dólares, se basa en una relación a largo plazo existente con renovaciones anuales.
La extensión de la asociación incluye ubicaciones adicionales y representa un gasto anual de 10 millones de dólares. Esta expansión marca un hito importante en el crecimiento de Lyneer dentro de la industria de producción de alimentos, reforzando su posición como proveedor de soluciones de fuerza laboral de confianza. Tanto Todd McNulty, CEO de Lyneer Staffing Solutions, como Jeffrey Jagid, CEO de Atlantic International, expresaron su entusiasmo por la relación ampliada y su alineación con los objetivos estratégicos de crecimiento de la empresa.
Atlantic International Corp. (OTC: ATLN)는 자회사를 통해 주요 식품 생산 회사와의 파트너십을 대폭 확대한다고 발표했습니다. Lyneer Staffing Solutions. 이 확장된 협력은 1천1백만 달러의 가치가 있으며, 25% 증가 가능성으로 1천3백75만 달러에 이를 수 있습니다. 이는 연례 갱신과 함께 기존의 장기 관계를 기반으로 합니다.
파트너십 연장은 추가 위치를 포함하며 연간 1천만 달러의 지출을 나타냅니다. 이 확장은 Lyneer의 식품 생산 산업 내에서의 성장의 중요한 이정표를 나타내며, 신뢰받는 인력 솔루션 공급자로서의 지위를 강화합니다. Todd McNulty, Lyneer Staffing Solutions의 CEO와 Jeffrey Jagid, Atlantic International의 CEO는 확대된 관계와 회사의 전략적 성장 목표에 부합하는 것에 대한 열정을 표현했습니다.
Atlantic International Corp. (OTC: ATLN) a annoncé une expansion significative de son partenariat avec une entreprise de production alimentaire de premier plan par l'intermédiaire de sa filiale, Lyneer Staffing Solutions. La collaboration prolongée, d'une valeur de 11 millions de dollars avec un potentiel d'augmentation de 25% jusqu'à 13,75 millions de dollars, repose sur une relation à long terme existante avec renouvellements annuels.
L'extension du partenariat inclut des emplacements supplémentaires et représente une dépense annuelle de 10 millions de dollars. Cette expansion marque une étape importante dans la croissance de Lyneer dans l'industrie de la production alimentaire, renforçant sa position en tant que fournisseur de solutions de main-d'œuvre de confiance. Todd McNulty, PDG de Lyneer Staffing Solutions, et Jeffrey Jagid, PDG d'Atlantic International, ont tous deux exprimé leur enthousiasme à propos de la relation élargie et de son alignement avec les objectifs stratégiques de croissance de l'entreprise.
Atlantic International Corp. (OTC: ATLN) hat eine bedeutende Erweiterung seiner Partnerschaft mit einem führenden Lebensmittelproduktionsunternehmen über seine Tochtergesellschaft Lyneer Staffing Solutions angekündigt. Die erweiterte Zusammenarbeit hat einen Wert von 11 Millionen Dollar mit Potenzial für eine 25%ige Erhöhung auf 13,75 Millionen Dollar und baut auf einer bestehenden langfristigen Beziehung mit jährlichen Erneuerungen auf.
Die Erweiterung der Partnerschaft umfasst zusätzliche Standorte und stellt eine jährliche Ausgabe von 10 Millionen Dollar dar. Diese Expansion markiert einen wichtigen Meilenstein im Wachstum von Lyneer innerhalb der Lebensmittelproduktion und verstärkt die Position als vertrauenswürdiger Anbieter von Personallösungen. Sowohl Todd McNulty, CEO von Lyneer Staffing Solutions, als auch Jeffrey Jagid, CEO von Atlantic International, äußerten Begeisterung über die erweiterte Beziehung und deren Übereinstimmung mit den strategischen Wachstumszielen des Unternehmens.
- Partnership extension valued at $11 million with potential 25% increase to $13.75 million
- Expansion to additional locations with the customer
- Annual spend of $10 million from the extended partnership
- Strengthens Lyneer's position in the food production sector
- None.
ENGLEWOOD CLIFFS, N.J., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Atlantic International Corp. (“Atlantic”) (OTC: ATLN), a leading provider of strategic staffing outsourced services and workforce solutions, today announced that its subsidiary Lyneer Staffing Solutions has agreed to a substantial extension of Lyneer’s partnership with a premier food production company. This strategic collaboration, building on a long-term relationship with annual renewals, involves a total spend of
Todd McNulty, CEO of Lyneer Staffing Solutions, expressed his enthusiasm about the expanded relationship: “At Lyneer, we deeply value our client partnerships and are thrilled to contribute to their growth by providing top-tier staffing solutions. This expansion is a testament to our team's dedication and our clients’ trust in us to meet their workforce needs efficiently and effectively.”
The partnership extension reinforces Lyneer's position in the food production sector and aligns with the company's strategic growth objectives.
Jeffrey Jagid, CEO of Atlantic International, commented on the significance of this development: “Our partnership approach is at the core of Atlantic International's business philosophy. We are excited about the continued growth in this market and remain committed to fostering long-term relationships that drive mutual success for our clients and our organization.”
This expanded collaboration showcases Lyneer Staffing Solutions' ability to adapt to client needs and industry demands, further solidifying its reputation as a trusted partner in workforce management.
About Atlantic International Corp.
Atlantic International Corp. (“Atlantic”) is a leading strategic staffing, outsourced services, and workforce solutions company executing a high-growth strategy. Through its principal operating subsidiary, Lyneer Investments LLC (“Lyneer”), Atlantic’s approximately 300 employees generated over
For more information about Lyneer Staffing Solutions please visit www.lyneer.com.
For more information about Atlantic International Corp., please visit www.atlantic-international.com.
Forward-Looking Statements & Safe Harbor Statement
With the exception of the historical information contained in this press release, the matters described herein, may contain “forward-looking statements” relating to the business of Atlantic, and its subsidiary company Lyneer. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations Contact
Kale Fein
kfein@atlantic-international.com
+1 (213) 915-6414
FAQ
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