Cintas Corporation · NASDAQ:CTAS
Cintas — Merger or Acquisition (December 2025)
10 slides from Cintas's merger presentation, Dec 22, 2025
Slide 1: Cintas + UniFirst
Cintas + UniFirst Built to Get Businesses of All Sizes Ready for the Workday December 22, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward Looking Statements This communication and the accompanying materials contain statements that constitute "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements regarding historical facts, including, witho
Slide 3: Creating Value for Customers, Employees & Shareholders
Creating Value for Customers, Employees & Shareholders Combination would Combines businesses with complementary strengths enable Cintas and UniFirst to better support customers Amplifies and accelerates benefits of ongoing investments in technology Better positioned to participate in large and growi
Slide 4: Significant, Immediate and Certain Value for UniFirst Shareholders
Significant, Immediate and Certain Value for UniFirst Shareholders UniFirst Stock Price Chart Substantial Premium $290 to UniFirst’s $270 Historical and Recent $250 Trading Levels Since $230 Last Closing Price Cintas Initially $210 $170.16 (12/19/25) Commenced Process $190 Nearly Four Years $170 Ago
Slide 5: Proposed Transaction Details
Proposed Transaction Details Financial Terms ▪ Cintas to acquire all outstanding common and class B shares of UniFirst for $275 per share in cash ▪ Implied total transaction value of approximately $5.2 billion Strategic Benefits ▪ Compelling strategic fit with shared priorities to enhance service fo
Slide 6: Combined Company Better Positioned Within Large, Growing, Competitive Market
Combined Company Better Positioned Within Large, Growing, Competitive Market Highly-Fragmented Market with Tremendous Cintas + UniFirst Opportunity for Greater Participation and Growth ▪ Innovative, more complete solution and comprehensive value proposition for businesses of all sizes. ▪ Well-positi
Slide 7: Amplified Benefits of Investment in Technology
Amplified Benefits of Investment in Technology Accelerates UniFirst’s ERP implementation Amplifies Cintas’ ongoing investments in Simplifies combined company’s solutions for customers and tools for ways of working, empowers our employee-partners employee-partners, and elevates the customer experienc
Slide 8: Cintas' Public Proposal Follows Consistent Lack of Meaningful Engagement
Cintas’ Public Proposal Follows Consistent Lack of Meaningful Engagement FEBRUARY 7, 2022 Cintas presents indication of interest to acquire UniFirst for $255/share (the "Prior Proposal"); UniFirst offers no substantive engagement Cintas has engaged in good-faith efforts in NOVEMBER 8, 2024 Cintas su
Slide 9: Cintas is Prepared to Engage and Move Toward a Transaction Immediately
Cintas is Prepared to Engage and Move Toward a Transaction Immediately Diligence ▪ We expect to have limited and specific confirmatory due diligence requirements. Timing ▪ We would work towards signing and announcing a definitive agreement in January 2026. Regulatory ▪ Cintas has engaged leading reg
Slide 10: CiINTAS.
CiINTAS. READY FOR THE WORKDAY*