UniFirst Corporation, a North American supplier and servicer of custom business uniforms and workwear, facility service programs, and first aid and safety products, announced an agreement to purchase Clean Uniform 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, according to a news release.
Founded in 1938 and headquartered in St. Louis, MO, Clean Uniform is an independent uniform, workwear and facility service program provider with (11) locations covering Missouri, Illinois, Arkansas, Kansas and Oklahoma and annual revenue of approximately $90 million.
“Clean has built a highly respected business that provides quality service with a strong customer focus,” stated UniFirst CEO, Steven Sintros. “The addition of Clean into the UniFirst family will provide a foundation for us to deliver an enhanced service experience for our customers in the markets that they serve.”
“UniFirst recognizes Clean’s strong service reputation in this market and is committed to retaining its employees, including its management, service and operations teams, as well as operating its facilities. We will be strategic and patient in the integration of the two businesses with a strong focus on customer and employee retention,” Sintros added.