UniFirst Shareholders Approve $5.5 Billion Acquisition by Cintas

WILMINGTON, Mass. — Shareholders of UniFirst Corporation have overwhelmingly approved the company’s pending acquisition by rival Cintas Corporation in a deal valued at approximately $5.5 billion. The vote, which took place at a special shareholder meeting on June 11, 2026, marks a critical step toward finalizing a merger that will further consolidate the North American uniform and facility services industry.

According to a statement released by UniFirst on June 12, more than 99% of the votes cast were in favor of the transaction. This represented approximately 95% of UniFirst’s total outstanding shares, demonstrating widespread investor support for the deal. The approval clears a significant hurdle for the acquisition, which is now expected to close in the second half of 2026, pending regulatory approvals and other customary closing conditions.

Under the terms of the merger agreement, UniFirst shareholders will receive a combination of cash and stock for each share they own: $155.00 in cash plus 0.7720 shares of Cintas common stock. Based on Cintas’s share price on March 9, 2026, the deal represented a value of approximately $310.00 per UniFirst share. The total enterprise value of $5.5 billion includes the assumption of debt and represents a multiple of 8.0 times UniFirst’s run-rate trailing 12-month earnings before interest, taxes, depreciation, and amortization (EBITDA).

The shareholder vote was largely a formality, as the deal had secured crucial backing months earlier. On March 10, 2026, Cintas entered into a voting support agreement with entities affiliated with UniFirst’s founding Croatti family. These entities control approximately two-thirds of the company’s combined voting power, and their commitment to vote in favor of the merger all but guaranteed the outcome of the special meeting. The boards of directors of both Cintas and UniFirst had also previously approved the transaction unanimously.

This final agreement evolved from an earlier, unsolicited proposal. In January 2025, Cintas had offered to acquire UniFirst for $275.00 per share in an all-cash deal valued at approximately $5.2 billion. The revised cash-and-stock structure not only increased the overall valuation but also gives UniFirst shareholders the opportunity to retain an equity stake in the combined, larger entity.

For Cintas, the acquisition is a strategic move to expand its service capabilities and achieve significant operational efficiencies. The company anticipates realizing approximately $375 million in annual operating cost synergies through the integration of UniFirst’s operations. In a statement from March, UniFirst Board Chairman Joseph M. Nowicki said the transaction followed a “thoughtful and thorough evaluation” and was in the best interests of all stakeholders, maximizing value for shareholders.

The merger will combine two of the largest players in the corporate uniform rental and facility services market, a sector that provides everything from workwear and protective gear to floor mats and restroom supplies for businesses across the country. The consolidation is expected to give the combined entity greater scale, a broader customer base, and an enhanced distribution network. For customers and smaller competitors, the deal signifies a less fragmented market dominated by an even larger industry leader, which could impact pricing, service options, and competitive dynamics.

While shareholder approval is a major milestone, the work of integrating the two massive companies is just beginning. Mergers of this scale present significant operational challenges, including aligning distinct corporate cultures, combining IT and logistics systems, and consolidating sales and service teams without disrupting customer relationships. The successful realization of the projected $375 million in synergies will depend heavily on a meticulously planned and executed post-merger integration process.

While this is a mega-deal, the principles of strategic growth and operational integration are universal. We often see small and mid-sized business owners focus intensely on the purchase price during an acquisition, whether they are buying or selling. However, in our experience, the real success of a transaction is determined long after the papers are signed. The post-merger integration—the complex work of blending teams, processes, and technologies—is where the projected value is either captured or lost. A failure to plan for this phase is one of the most common reasons that acquisitions fail to meet expectations. This is why a comprehensive strategy is essential. The expert guidance provided through our mergers and acquisitions services helps business owners navigate this entire lifecycle, from initial valuation to the critical post-deal integration. For business owners considering growth through acquisition, the team at C&S Finance Group LLC at csfinancegroup.com provides the hands-on support needed to ensure these transactions create sustainable, long-term value.

With the UniFirst shareholder vote secured, the final steps toward closing the transaction now center on regulatory reviews. Both companies will need to satisfy remaining closing conditions outlined in the merger agreement, including obtaining necessary approvals from government authorities. According to SEC filings, the agreement includes an outside termination date of January 10, 2027, providing a deadline for all conditions to be met before either party can walk away from the deal.