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Unifirst Announces Agreement To Acquire Clean Uniform

Feb 08, 2023•over 2 years ago

Acquiring Company

UniFirst Corporation

Acquired Company

Clean Uniform

Manufacturing

Description

UniFirst Corporation (NYSE: UNF) (the “Company,” “UniFirst” or “we”), a North American leader in the supply and servicing of custom business uniform and workwear, facility service programs, and first aid and safety products, today announced that it has signed an agreement to purchase Clean Uniform (“Clean”) for $300 million, or a net purchase price of approximately $260 million after adjusting for the estimated value of anticipated incremental tax benefits that it expects to realize over time.

Company Information

Company

UniFirst Corporation

About

Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, as well as the delivery of facility service programs. Together with its subsidiaries, the Company also provides first aid and safety products, and manages specialized garment programs for the cleanroom and nuclear industries. UniFirst manufactures its own branded workwear, protective clothing, and floorcare products; and with 260 service locations, over 300,000 customer locations, and 14,000-plus employee Team Partners, the Company outfits nearly 2 million workers each business day. For more information, contact UniFirst at 800.455.7654 or visit UniFirst.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed