Cintas to Acquire UniFirst for $5.5 Billion at $310 per Share
Cintas will acquire UniFirst in a $5.5 billion cash-and-stock deal, offering $155 per share plus 0.7720 Cintas shares, valuing UniFirst at $310 per share. The transaction, representing roughly a 20% premium to UniFirst’s $4.7 billion market value, is set to close in H2 pending approvals.
1. Transaction Details
Cintas will purchase all outstanding UniFirst shares in a combined cash-and-stock transaction valuing the company at $5.5 billion. UniFirst shareholders will receive $155 in cash plus 0.7720 Cintas shares for each UniFirst share, reflecting a total of $310 per share.
2. Premium and Market Impact
The offer price represents roughly a 20% premium to UniFirst’s prior closing price of $257.91, boosting the deal value above UniFirst’s $4.7 billion market capitalization. UniFirst shares jumped on the news, reflecting strong market approval of the terms.
3. Approval Timeline
The transaction is expected to close in the second half of 2026, subject to approvals from UniFirst shareholders and relevant regulatory bodies. Both companies are preparing for integration and regulatory filings over the coming months.
4. Strategic Rationale
The acquisition extends Cintas’s service capabilities and consolidates its position in the uniform supply market. After pursuing UniFirst since 2022, Cintas aims to enhance operational scale, expand customer offerings and drive innovation across its combined platform.