Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
WILMINGTON, Mass., Sept. 21, 2016 -- UniFirst Corporation (NYSE:UNF) recently announced that it has completed an acquisition of Arrow Uniform (Arrow) for approximately $122 million. The deal is structured as an asset acquisition, with UniFirst acquiring essentially all of Arrow’s assets and virtually none of its liabilities.
UniFirst is a leading provider of workplace uniforms and facility services to businesses, large and small, within a wide range of industries throughout the U.S. and Canada. Arrow is also a uniform and facility service provider, headquartered in Taylor, Mich., with 12 locations in five Midwestern states, nearly 700 employees, and thousands of business customers.
The acquisition will allow UniFirst to continue the company mission to be recognized as the leading provider of managed uniform and facility service programs, striving for total customer satisfaction. Ronald D. Croatti, UniFirst President and Chief Executive Officer, said, “Arrow is a highly respected organization with a solid reputation in the marketplace and a culture based on delivering service excellence to their business customers. The company has been a strong player in our industry since 1937 and we’re very pleased to have them join the UniFirst family.”
Croatti said business acquisitions have historically been an integral part of UniFirst’s growth strategy, adding, “Through this acquisition, UniFirst further strengthens its market presence in the greater Michigan and surrounding areas—a strong business environment for the kinds of uniform and facility service programs we provide. This improved service coverage will help us better serve existing and prospective local, regional, and national customers in this area of the country.”
UniFirst expects the Arrow acquisition to add more than $60 million to its revenues for fiscal year 2017.
About UniFirst
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 over 225 service locations, 275,000 customer locations, and 12,000 employee Team Partners, the company outfits more than 1.5 million workers each business day. For more information, contact UniFirst at 800.455.7654 or visit www.unifirst.com.
Contact: Meghan Marcus PR/Communications Specialist UniFirst Corporation 68 Jonspin Rd. Wilmington, MA 01887 978.527.3974 [email protected]
