NORTH AMERICA
UniFirst Corporation, the provider of workplace uniforms and facility services to businesses throughout the USA and Canada, has announced that it has completed the acquisition of Arrow Uniform (Arrow) for approximately $122million. The deal is structured as an asset acquisition, with UniFirst acquiring essentially all of Arrow's assets and virtually none of its liabilities.
UniFirst expects the Arrow acquisition to add more than $60m to its revenues for fiscal year 2017.
Arrow is a uniform and facility service provider, based in Taylor, Michigan, with 12 locations in five Midwestern states, nearly 700 employees, and thousands of business customers.
The acquisition will allow UniFirst to continue the company mission to be recognised as the leading provider of managed uniform and facility service programs, striving for total customer satisfaction. Ronald D. Croatti, UniFirst president and chief executive officer, said: “Arrow is a highly respected organisation with a solid reputation in the marketplace and a culture based on delivering service excellence to their business customers. The company has been a strong player in our industry since 1937 and we're very pleased to have them join the UniFirst family.”
