Cintas (NASDAQ:CTAS) announced on Wednesday that it has entered into a definitive agreement to acquire rival UniFirst (NYSE:UNF) for $310 per share.
The transaction, a combination of cash and stock, carries an enterprise value of approximately $5.5 billion and represents a significant consolidation in the highly competitive uniform rental and facility services market.
The merger unites two of the most prominent family-founded entities in the sector.
The combined organization will serve an estimated 1.5 million business customers throughout the United States and Canada, providing a diversified portfolio of products including workwear, facility supplies, and first aid and safety programs.
Cintas expects the acquisition to yield substantial operational synergies by integrating complementary processing capacities and route networks.
Management cited the ability to streamline supply chains and leverage combined technology investments as a primary driver for the deal.
The $310 per share offer represents a premium for UniFirst shareholders, reflecting the strategic value of its expansive route density and localized service centers.
The deal is subject to customary closing conditions and regulatory approvals, with both companies expressing confidence in the long-term efficiencies the combined scale will provide to the North American industrial services landscape.