Wilmington's UniFirst Announces $300M Purchase Of Clean Uniform

WILMINGTON, MA —UniFirst, the Wilmington-based supplier of custom business uniforms and workwear, facility service programs and first aid and safety products, announced Wednesday that it had signed an agreement to purchase Clean Uniform for $300 million.

UniFirst said the net purchase price of the deal is approximately $260 million after adjusting for the estimated value of anticipated incremental tax benefits that it expects to realize over time.

St. Louis, Missouri-based Clean Uniform, which was founded in 1938, is one of the largest independent uniform, workwear and facility service program providers in the U.S. The company has 11 locations in Missouri, Illinois, Arkansas, Kansas and Oklahoma and an annual revenue of approximately $90 million.

"Clean has built a highly respected business that provides quality service with a strong customer focus," said 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."

Sintros continued: "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."

UniFirst announced that its Board of Directors had unanimously approved the transaction, which is expected to close in the company's third fiscal quarter, which ends May 27.