Atlantic International Corp. Secures Major Contract Renewal with Premier North American Baking Company
Rhea-AI Summary
Atlantic International Corp. (Nasdaq: ATLN) announced that its subsidiary Lyneer Staffing Solutions has secured a significant contract renewal with a premier North American baking company in Northern California. The renewed partnership includes an expansion to additional locations, with Lyneer positioned to capture approximately $10 million in spending.
The expanded contract, effective immediately, demonstrates Lyneer's expertise in providing specialized workforce solutions for the food production industry. Lyneer will commence staffing operations at the new locations in the coming weeks, strengthening its partnership with the client while scaling its workforce solutions across their operations.
Positive
- Contract renewal and expansion with major baking company
- $10 million potential revenue capture from expanded partnership
- Immediate contract implementation with near-term operational start
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, ATLN declined 8.68%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ENGLEWOOD CLIFFS, N.J., March 06, 2025 (GLOBE NEWSWIRE) -- Atlantic International Corp. (“Atlantic”) (Nasdaq: ATLN), a leading provider of strategic staffing, outsourced services and workforce solutions, today announced that its subsidiary Lyneer Staffing Solutions (“Lyneer”) has secured a significant contract renewal with a premier North American baking company in Northern California.
The renewed partnership includes an expansion to additional locations, positioning Lyneer to capture approximately
“This contract renewal represents a powerful vote of confidence in Lyneer’s ability to deliver consistent value to our clients,” said Todd McNulty, CEO of Lyneer. “By expanding our relationship with this valued client to additional locations, we’re strengthening our partnership and demonstrating our commitment to scaling our specialized workforce solutions across their operations. We look forward to continuing to provide exceptional talent that drives their business forward.”
Jeffrey Jagid, CEO of Atlantic, added, “This significant contract renewal aligns perfectly with our growth strategy of deepening relationships with key clients across strategic industries. Lyneer continues to be a vital component of Atlantic, and this expanded partnership further validates our acquisition strategy. We’re excited about the opportunities this presents for both companies as we continue to enhance our service offerings and drive shareholder value.”
The expanded contract will go into effect immediately, and Lyneer will begin staffing operations at the new locations in the coming weeks.
About Atlantic International Corp.
Atlantic International Corp. (“Atlantic”) (Nasdaq: ATLN) is a leading strategic staffing, outsourced services, and workforce solutions company executing a high-growth strategy. Through its principal operating subsidiary Lyneer, Atlantic provides its customers with complete HR solutions, operating 40+ independent on-site and vendor-on-premises facilities and paying over 12,000 employees weekly. According to Staffing Industry Analysts, Atlantic is among the largest national staffing companies servicing the light industrial, commercial, professional, finance, direct placement, and managed service provider verticals.
For more information about Atlantic International Corp., please visit www.atlantic-international.com.
Forward-Looking Statements & Safe Harbor Statement
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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.
Atlantic Investor Relations
investors@atlantic-international.com
FAQ
How much revenue will ATLN capture from the renewed baking company contract?
When will ATLN's Lyneer subsidiary begin operations at the new locations?
What industry sector does ATLN's new contract renewal serve?
What geographical expansion does ATLN's renewed contract include?
