Cintas Corp. announced Wednesday that it has reached a definitive agreement to acquire UniFirst Corp. in a deal valued at approximately $5.5 billion, OT is continuing to explore any implications this could have on the Owensboro fulfillment center and operations.
Under the terms of the agreement, UniFirst shareholders will receive $155 in cash and 0.7720 shares of Cintas stock for each UniFirst share they own, representing a combined value of $310 per share based on Cintas’ March 9 closing stock price.
The transaction, which has been approved by the boards of both companies, is expected to close in the second half of 2026, pending shareholder approval and regulatory review.
“This agreement marks a critical step in realizing substantial value for shareholders and customers,” said Todd Schneider, president and CEO of Cintas. “For decades, Cintas and UniFirst have built their reputations on a shared commitment to service excellence and putting customers first. By combining, we will be better positioned to drive growth and deliver efficiencies that benefit our customers and employee-partners.”
Cintas, headquartered in Cincinnati, provides uniforms, facility services, first aid and safety products to more than 1 million businesses across North America. UniFirst, based in Wilmington, Massachusetts, supplies uniform and workwear programs and related services to more than 300,000 customer locations and outfits more than 2 million workers each day.
Together, the companies expect to serve approximately 1.5 million business customers across North America. Officials said combining operations will allow the companies to integrate processing capacity, route networks, service infrastructure and supply chains, which they believe will improve efficiency and expand service capabilities.
“This announcement reflects the extraordinary dedication of our Team Partners to ‘Always Deliver’ for the customers and communities we serve,” said UniFirst President and CEO Steven Sintros. “As we spent time with Todd and the Cintas leadership team, it became clear that there is a deep alignment in purpose and core priorities between our two companies.”
The combined company is also expected to realize about $375 million in operating cost synergies within four years through reductions in material costs, production expenses and administrative spending.
Officials said the majority of UniFirst employees are expected to have opportunities within the combined company.
“The UniFirst Board of Directors is pleased to have reached an agreement with Cintas that maximizes value for our shareholders and provides the opportunity to participate in the future upside of the combined company,” said UniFirst board chairman Joseph M. Nowicki.
The Croatti family, longtime leaders of UniFirst who control roughly two-thirds of the company’s voting power, have agreed to support the transaction and will retain an ownership stake in the combined company.
In Owensboro, UniFirst operates a major distribution and fulfillment center that currently employs more than 520 workers and processes more than 20 million garments annually for customers across the United States and Canada.
The company recently broke ground on a $28 million expansion of the Owensboro facility, adding approximately 109,000 square feet and bringing the total footprint of the complex to about 469,000 square feet. The project includes robotics integration, smart conveyor systems and a high-tech shipping sortation system designed to improve efficiency and accuracy.
Construction on the expansion began last year and is expected to be completed next spring.
Company officials have said the investment reflects UniFirst’s long-term commitment to its Owensboro operations, where it has operated for more than 27 years.
