UniFirst Corporation Issues Statement Related to Recent Industry Activity

Rhea-AI Summary

UniFirst (NYSE: UNF), a leading North American supplier of uniform and workwear programs, facility service products, and safety supplies, has issued a statement addressing recent industry rumors. The company confirmed that it had contacted Elis SA to inquire about rumors regarding Elis's potential entry into the U.S. market. UniFirst clarified that these discussions were not intended to solicit an offer and have since concluded.

UniFirst stated that it does not anticipate further discussions with Elis. The company expressed enthusiasm about its ongoing investments in people, technology, and infrastructure, emphasizing its belief in its significant long-term potential.

Positive

• UniFirst proactively addressed market rumors, demonstrating transparency
• The company reaffirmed its focus on internal investments for long-term growth

Negative

• Discussions with Elis SA have ended, potentially closing off strategic opportunities

WILMINGTON, Mass., Oct. 04, 2024 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE: UNF) (“UniFirst” or the “Company”), a North American leader in the supply and servicing of uniform and workwear programs, facility service products, and first aid and safety supplies, today issued the following statement related to recent industry activity:

UniFirst is regularly in contact with other companies in the industry related to various business matters. Following recent market rumors related to Elis SA (“Elis”) and its potential entry into the U.S. market, UniFirst contacted Elis to better understand those rumors and not with the intent of soliciting an offer. Those discussions have ended and, at this time, UniFirst does not anticipate holding future discussions with Elis.

The Company is excited about the investments it continues to make in its people, technology, and infrastructure to support the business and believes that it has significant long-term potential.

About UniFirst Corporation
Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the company 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 ISO-9001-certified 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 2 million workers every day. For additional information, contact UniFirst at 888.296.2740 or visit UniFirst.com. Follow UniFirst on Social Media: LinkedIn, Facebook, X, YouTube, Instagram.

Forward-Looking Statements Disclosure
This public announcement contains forward-looking statements within the meaning of the federal securities laws that reflect the Company's current views with respect to future events. Forward-looking statements contained in this public announcement are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995 and may be identified by words such as “anticipates,” “continues,” “believes,” “long-term,” “future,” “potential,” or the negative versions thereof, and similar expressions and by the context in which they are used. Such forward-looking statements are based upon our current expectations and speak only as of the date made. Such statements are highly dependent upon a variety of risks, uncertainties and other important factors that could cause actual results to differ materially from those reflected in such forward-looking statements. Such factors include, but are not limited to, our ability to execute on our strategies, and the other factors described under Part I, Item 1A. “Risk Factors” and elsewhere in our Annual Report on Form 10-K for the year ended August 26, 2023, Part II, Item 1A. “Risk Factors” and elsewhere in our subsequent Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made.

Contact:
Shane O’Connor
EVP and Chief Financial Officer
978-658-8888
Shane_OConnor@unifirst.com

FAQ

What was UniFirst's response to rumors about Elis SA entering the U.S. market?

UniFirst contacted Elis SA to understand the rumors about their potential entry into the U.S. market, but not to solicit an offer. The discussions have ended, and UniFirst does not anticipate future talks with Elis.

Is UniFirst (UNF) currently in discussions with Elis SA for a potential deal?

No, UniFirst has stated that discussions with Elis SA have ended and they do not anticipate holding future discussions with the company.

What is UniFirst's (UNF) current focus according to their recent statement?

UniFirst expressed excitement about ongoing investments in its people, technology, and infrastructure to support the business, believing in its significant long-term potential.

Did UniFirst (UNF) attempt to solicit an offer from Elis SA?

No, UniFirst clarified that their contact with Elis SA was not intended to solicit an offer, but rather to understand rumors about Elis's potential entry into the U.S. market.