Jeff Lederer isn’t one to cloud reality with empty corporate speak.

Asked how Top 40 distributor Myron (asi/278980) has performed in recent years, the past owner/CEO of former Top 40 supplier Prime Line gives a straightforward answer: Not good.

“Myron has not fared well,” says Lederer, a member of Counselor’s Power 50 list of the most influential people in promo prior to his several-year hiatus from the North American merch industry that began in 2020. “It’s been nonexistent profit and tight cash.”

But Lederer believes that Myron – with its unique business model – has potential for a massive turnaround. It’s a key reason why the investment firm he leads, GIG Myron Holdings Inc., just acquired the New Jersey-headquartered distributorship in a deal that was an industry-wide headline grabber. With what’s already in place at Myron and what GIG Myron Holdings has to offer, Lederer believes the distributorship’s phoenix is poised to rise.

“We know what needs to happen to turn this business around and really restore it to the glory days that once were the case with this 75-year-old family company,” Lederer says. “It’s going to be tough work. The company needs some ‘TLC.’ But we are going to make the requisite changes. We’re going to make it happen.”

Lederer discusses all that and more in this Promo Insiders hosted by ASI Media’s Christopher Ruvo.