We are advising Cintas on the transaction

Davis Polk is advising Cintas Corporation on its acquisition of UniFirst Corporation for $310.00 per share in cash and stock, representing an enterprise value of approximately $5.5 billion. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and the receipt of certain regulatory approvals.

Cintas helps more than one million businesses of all types and sizes get ready to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe and looking their best. The company’s offerings include uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training. Headquartered in Cincinnati, Ohio, Cintas is a publicly held company whose shares are traded on the Nasdaq Global Select Market under the symbol “CTAS.”

Headquartered in Wilmington, Massachusetts, UniFirst is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, and first aid and safety supplies and services. Together with its subsidiaries, UniFirst also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing and floorcare products at its three company-owned manufacturing facilities. With more than 270 service locations, over 300,000 customer locations and 16,000-plus employee team partners, the company outfits more than two million workers every day.

The Davis Polk corporate team includes partners James P. Dougherty and Shanu Bajaj, counsel Saagar Kaul and associates Katherine Anne Cody and Noah Andre Beatty. Partner Jennifer S. Conway, counsel Justin Alexander Kasprisin and associate Omar S. Deghidy are providing executive compensation advice. Partners Howard Shelanski and Arthur J. Burke and counsel Nathan Kiratzis are providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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