Business
Cintas to Acquire UniFirst in $5.5 Billion Transaction That Expands Service Capabilities, Enhances Workday Solutions and Advances Industry Innovation
Transaction expected to deliver substantial benefits for customers, workers and employees across North America and enhance value for shareholders of both
About this update from Cintas Corporation
[{"type":"text","content":"\nTransaction expected to deliver substantial benefits for customers, workers and employees across North America and enhance value for shareholders of both companies\n\n\nEstimated to generate approximately $375 million of operating cost synergies\n\n\n CINCINNATI & WILMINGTON, Mass.--(BUSINESS WIRE)--\nCintas Corporation (Nasdaq: CTAS) (“Cintas” or the “Company”) and UniFirst Corporation (NYSE: UNF) (“UniFirst”) today announced that they have entered into a definitive agreement under which Cintas will acquire UniFirst for $310.00 per share in cash and stock, representing an enterprise value of approximately $5.5 billion.1\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260310478114/en/\nThe transaction brings together two family-founded companies with longstanding commitments to customer service and operational excellence. The combined company will deliver innovative products and outstanding services to approximately 1.5 million business customers across North America. By integrating complementary processing capacity, route networks, service infrastructure, supply chains and technology investments, Cintas expects to create efficiencies and expand service capabilities. These enhancements will benefit customers – and the American and Canadian workers they support – through reliable, cost-effective garment, facility services and first aid and safety programs backed by continued innovation.\n\n\nExecutive and Board Commentary\n\n\n“This agreement marks a critical step in realizing substantial value for shareholders and customers,” said Todd Schneider, President and Chief Executive Officer of Cintas. “For decades, Cintas and UniFirst have built their reputations on a shared commitment to service excellence and putting customers first. By combining, we will be better positioned to drive growth and deliver on efficiencies that will benefit our collective customers and employee-partners. We look forward to welcoming UniFirst Team Partners to Cintas as we deliver on our shared vision.”\n\n\n“The UniFirst Board of Directors is pleased to have reached an agreement with Cintas that maximizes value for our shareholders and provides the opportunity to participate in the compelling future upside of the combined company,” said Joseph M. Nowicki, Chairman of the UniFirst Board of D...