Cintas Corp. (CTAS) on Wednesday issued third-quarter preliminary results, reporting higher revenues. Further, the firm announced that it has entered into a definitive agreement to acquire UniFirst Corp. (UNF) for $310.00 per share in cash and stock, representing an enterprise value of around $5.5 billion.
In pre-market activity, Cintas shares were losing around 2.2 percent, trading at $192.00, while UniFirst shares were gaining 9 percent, at $281.38.
Cintas expects the deal to be accretive to its earnings per share by the end of the second full year after closing.
Under the agreement terms, UniFirst shareholders will receive $155.00 in cash and 0.7720 shares of Cintas stock for each UniFirst share they own.
The Boards of Directors of both companies have unanimously approved the transaction, which is expected to close in the second half of calendar 2026, subject to conditions.
The cash consideration will be funded with Cintas' cash on hand, committed lines of credit and/or other available sources of financing.
The combined company is expected to deliver innovative products and outstanding services to around 1.5 million business customers across North America.
Cintas said it expects to benefit from the addition of UniFirst's workforce while also realizing approximately $375 million of operating cost synergies, including material cost, production expense, service expense and selling, general and administrative expense, within four years.
Steven Sintros, UniFirst President and Chief Executive Officer, stated, "Bringing together these successful, family-founded businesses will create meaningful benefits for our people and communities while advancing innovation for the benefit of our customers and the broader industry."
Regarding its preliminary results, Cintas reported third-quarter revenue of $2.84 billion, a growth of 8.9 percent from $2.61 billion last year. Organic revenue growth was 8.2%.
Cintas will release third-quarter results on March 25, while UniFirst will report second-quarter results on April 1, before the market opens.
For comments and feedback contact: editorial@rttnews.com
Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.