Atlantic International's Subsidiary Expands Annual Revenue as Key Partner
Overview of Lyneer Staffing Solutions' Growth
The dynamics of the workforce solutions industry are evolving rapidly, and at the forefront is Atlantic International Corp. (Nasdaq: ATLN). Their subsidiary, Lyneer Staffing Solutions, is making waves in the food production sector. Recently, Lyneer renewed its partnership with a premier food production company, enhancing its market presence significantly.
Partnership Renewal and Market Expansion
This renewal marks a significant milestone for Lyneer, shifting from multiple staffing providers to a more consolidated relationship. This change positions Lyneer to capture a larger slice of the client's annual staffing budget. In the past, Lyneer's share was approximately $9.5 million, but with the new consolidation strategy, that figure is projected to rise to a staggering $12 million or above, translating to a 26% boost in revenue from this important client.
Impact on Company Growth
According to Todd McNulty, CEO of Lyneer Staffing Solutions, this partnership is a testament to the company's capacity for growth and adaptation. As businesses pivot towards fewer partners, providers like Lyneer that excel in service delivery are rewarded with increased responsibilities, highlighting the importance of reliability and quality in service.
Benefits of Consolidating Vendor Relationships
The strategic consolidation of staffing services not only helps to streamline vendor management for the client but also fosters improved communication and planning. This collaboration allows Lyneer to fine-tune its approach, ensuring more strategic workforce management and creating a model of partnership that benefits both entities involved.
Value of Long-term Relationships
Jeffrey Jagid, the CEO of Atlantic International, emphasizes the advantages of building long-term partnerships. This renewed agreement demonstrates how trust and proven performance can lead to extraordinary business outcomes. The relationship with this food production client is a prime example of how effective communication and service level enhancements pave the way for mutual growth.
Lyneer’s Role in the Food Production Sector
The consolidation comes on the heels of Lyneer’s growing reputation in the food production industry. Securing a larger share of the market illustrates Lyneer's operational excellence and commitment to maintaining high client satisfaction levels. This move does not just signify revenue growth; it encapsulates the ongoing dedication to enhancing service quality and operational effectiveness.
Alignment with Corporate Strategy
This partnership aligns seamlessly with Atlantic International's overarching strategy of fostering sustainable growth and strengthening market leadership across vital sectors. There is a notable aspiration within Atlantic International for further penetration into the food production industry, viewing it as a robust area for specialized workforce solutions.
About Atlantic International Corp.
Atlantic International Corp., represented on Nasdaq by the ticker ATLN, is a premier provider of strategic staffing, outsourced services, and tailored workforce solutions. Lyneer Staffing Solutions, its key subsidiary, excels in delivering innovative staffing services across diverse industries, with a specialized focus on food production, manufacturing, and logistics.
Frequently Asked Questions
What is the recent achievement of Lyneer Staffing Solutions?
Lyneer has renewed a significant partnership in the food production sector, expected to increase its annual revenue by over $12 million.
How does vendor consolidation benefit clients?
It streamlines vendor management and enhances communication, allowing for better strategic workforce planning and deeper relationships.
What does the growth mean for Atlantic International?
This growth underscores Atlantic International's commitment to their strategic objectives of sustainable growth and client satisfaction.
What are the key sectors for Lyneer Staffing?
Lyneer specializes in staffing solutions predominantly in the food production, manufacturing, and logistics sectors.
Who can be contacted for investor relations queries?
For investor relations, queries can be directed via email to investorsr@atlantic-international.com.
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