Cintas Corporation announced on March 24, 2025, that it has terminated discussions with UniFirst Corporation regarding Cintas’ proposal to acquire all outstanding common and Class B shares of UniFirst. The proposal had offered $275.00 per share in cash.
Cintas stated that despite believing in the merits of a transaction, it was unable to have substantive engagement with UniFirst regarding key transaction terms. The original proposal represented a 46% premium over UniFirst’s ninety-day average closing price as of January 6, 2025.
The termination of these talks means UniFirst will continue to execute its proven growth strategy as a standalone company. This development removes the immediate prospect of a takeover, refocusing attention on UniFirst's organic growth and strategic initiatives.
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