Press release
Cintas Proposes to Acquire UniFirst for $275.00 Per Share in Cash
Proposal represents 64% premium to UniFirst’s 90-day average price as of December 11, 2025 Reiterates benefits to customers, employee-partners and
About this update from Cintas Corporation
[{"type":"text","content":"\nProposal represents 64% premium to UniFirst’s 90-day average price as of December 11, 2025\n\n\nReiterates benefits to customers, employee-partners and shareholders\n\n\n CINCINNATI--(BUSINESS WIRE)--\nCintas Corporation (Nasdaq: CTAS) today announced that it submitted a proposal to the Board of Directors of UniFirst Corporation (NYSE: UNF) to acquire all outstanding common and class B shares of UniFirst for $275.00 per share (the “Proposal”) in cash. The Proposal, which was delivered to the UniFirst Board on December 12, 2025, implies a total value for UniFirst of approximately $5.2 billion and offers UniFirst shareholders a 64% premium to UniFirst’s ninety-day average closing price as of December 11, 2025.\n\n\nTodd Schneider, President and Chief Executive Officer of Cintas, said, “We remain unwavering in our conviction that combining Cintas and UniFirst would deliver considerable benefits for customers, employee-partners and shareholders. Accordingly, we have reiterated our compelling $275 per share all-cash offer to the UniFirst board and are reaffirming our commitment to move swiftly to complete a transaction.”\n\n\n“Recent market commentary confirms that many UniFirst shareholders, including several of the Company’s largest institutional investors, recognize the value that a combination would deliver and share our belief that we are stronger together than we are apart. We invite the UniFirst Board to engage immediately in collaborative discussions to reach a definitive agreement which we are confident will unlock new opportunities for growth, deliver even greater capabilities and offerings to our collective customer bases, and build on the strong legacy of both organizations.”\n\n\nThe combined company would provide innovative products and outstanding service to well over 1 million business customers across the US and Canada. Cintas has an exceptional track record of organic growth, and the combination with UniFirst would provide additional processing capacity and greater route density which would further enhance customer service.\n\n\nClear Path to Completion\nCintas has undertaken substantial work on the regulatory front and remains confident that there is a clear path to obtaining the regulatory approvals necessary to consummate the proposed transaction. In the most recent Proposal, Cintas has offered to extend a $350...