Vestis’ purpose places an emphasis on making a
positive difference in the lives of customers and teammates
Analyst Day to be held on September 13th, 2023
to review next phase of value creation
Aramark (NYSE: ARMK), a global leader in food, facilities
management, and uniforms, today announced that Vestis™ will be the
name of the new company to be created through the expected spin-off
of its uniform services business. This follows Aramark’s previously
announced plan to separate Aramark Uniform Services (AUS) to create
an independent, publicly traded company.
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the full release here:
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“Vestis” is the Latin word for garments and clothing and is the
foundation of the words “to dress” in a number of languages. The
name captures the uniform rental services business offering. It
also has a deeper meaning when it is used in the Latin phrase
“vestis virum facit” or “clothes make the person.” Vestis will use
a descriptor, Uniforms and Workplace Supplies, to describe the full
breadth of its offering.
“Our new name, Vestis, connects us to our purpose as an
organization – deliver uniforms and supplies that empower people to
do good work and good things for others while at work,” said Kim
Scott, President and CEO of Aramark Uniform Services and appointed
CEO of Vestis. “We are grateful to our customers for the
opportunity to continue to deliver services and products that help
their teammates work confidently, comfortably, and safely each day.
We are also excited about our future as an independent, publicly
traded company and we remain confident that great things are ahead
for our teammates, customers, and shareholders.”
Vestis will continue to offer uniforms, as well as full-service
rental programs and workplace supplies. Its comprehensive service
offering includes floor mats, towels, linens, managed restroom
services, cleanroom, and first aid supplies. Upon the completion of
the separation from Aramark, Vestis will have about 20,000
teammates and serve approximately 300,000 customer locations.
John Zillmer, Aramark’s Chief Executive Officer, said, “This
announcement is a milestone moment for Aramark and our uniforms
business. We are on the path to creating two independent industry
leaders able to focus solely on their core strengths and expertise.
I have confidence in the deeply experienced leadership team at
Vestis and their strategic vision, and I look forward to seeing the
team continue to achieve great things in the future.”
With its announcement today, Vestis also releases its new
company logo, a bold and complementary combination of orange and
navy blue that exudes warmth and a new energy, balanced by its
strong confidence and deep experience in the industrial laundry
industry. The mark resembles a shirt collar, which also represents
the “V” in Vestis. The company will transition to this logo and
other brand identity elements following the transaction
completion.
Analyst Day
Vestis looks forward to sharing further details on its strategic
framework for the next phase of value creation at the company’s
upcoming Analyst Day on Wednesday, September 13th, 2023, that will
be streaming live via webcast at 9:00 am ET on the Aramark Investor
Relations website.
About Vestis
Vestis is being established as an independent, publicly traded
company, and currently operates under Aramark as Aramark Uniform
Services. Vestis is a leader in the B2B uniform and workplace
supplies category. Vestis provides clean and safe uniform services
and workplace supplies to a broad range of North American customers
from Fortune 500 companies to locally owned small businesses across
a broad set of end markets. The company’s comprehensive service
offering includes a full-service uniform rental program, cleanroom
and other specialty garment processing, floor mats, towels, linens,
managed restroom services, first aid supplies and more.
About Aramark
Aramark (NYSE: ARMK) proudly serves the world’s leading
educational institutions, Fortune 500 companies, world champion
sports teams, prominent healthcare providers, iconic destinations
and cultural attractions, and numerous municipalities in 19
countries around the world with food, facilities, and uniform
services. Because our culture is rooted in service, our employees
strive to do great things for each other, our partners, our
communities, and the planet. Aramark has been recognized on
FORTUNE’s list of “World’s Most Admired Companies,” DiversityInc’s
“Top 50 Companies for Diversity” and “Top Companies for Supplier
Diversity,” Newsweek’s list of “America’s Most Responsible
Companies 2023,” the HRC’s “Best Places to Work for LGBTQ
Equality,” and scored 100% on the Disability Equality Index. Learn
more at www.aramark.com and connect with us on Facebook, Twitter,
and LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
included in this press release are forward-looking statements. In
particular, statements as to the anticipated timing of the Uniform
Services spin-off are forward-looking statements. These
forward-looking statements are sometimes identified from the use of
forward-looking words such as “believe,” “should,” “could,”
“potential,” “continue,” “expect,” “project,” “estimate,”
“predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,”
“target,” “is likely,” “will,” “can,” “may” or “would” or the
negative of these terms or similar expressions elsewhere in this
press release. All forward-looking statements are subject to a
number of important factors, risks, uncertainties and assumptions
that could cause actual results to differ materially from those
described in any forward-looking statements. These factors and
risks include, but are not limited to, risks associated with the
impact, timing or terms of the proposed spin-off of Aramark Uniform
Services; risks associated with the expected benefits and costs of
the proposed spin-off, including the risk that the expected
benefits of the proposed spin-off will not be realized within the
expected time frame, in full or at all, and the risk that
conditions to the proposed spin-off will not be satisfied and/or
that the proposed spin-off will not be completed within the
expected time frame, on the expected terms or at all; the expected
qualification of the proposed spin-off as a tax-free transaction
for United States federal income tax purposes, including whether or
not an Internal Revenue Service ruling will be obtained; the risk
that any consents or approvals required in connection with the
proposed spin-off will not be received or obtained within the
expected time frame, on the expected terms or at all; risks
associated with expected financing transactions undertaken in
connection with the proposed spin-off and risks associated with
indebtedness incurred in connection with the proposed spin-off; the
risk of increased costs from lost synergies, costs of restructuring
transactions and other costs incurred in connection with the
proposed spin-off; retention of existing management team members as
a result of the proposed spin-off; reaction of customers, our
employees and other parties to the proposed spin-off; and the
impact of the proposed spin-off on our business and the risk that
the proposed spin-off may be more difficult, time-consuming or
costly than expected, including the impact on our resources,
systems, procedures and controls, diversion of management’s
attention and the impact on relationships with customers,
suppliers, employees and other business counterparties and the
other financial, operational and legal risks and uncertainties
detailed from time to time in Aramark’s cautionary statements
contained in its filings with the SEC. All forward-looking
statements speak only as of the date of this press release. Aramark
undertakes no obligations to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise other than as required under the federal securities
laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230905553075/en/
Aramark: Felise Glantz Kissell (215) 409-7287
Kissell-Felise@aramark.com
Scott Sullivan (215) 238-3953 Sullivan-Scott@aramark.com
Vestis: Valerie Haertel (470) 924-1293
Haertel-Valerie@aramark.com
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