Aramark Completes Spin-Off of Vestis™
02 Outubro 2023 - 7:29AM
Business Wire
Aramark (NYSE: ARMK), today announced that it has completed the
spin-off of Vestis Corporation (“Vestis”), which holds Aramark’s
uniform and workplace supplies business. Vestis is now an
independent public company. Aramark will continue to trade on the
New York Stock Exchange (the “NYSE”) under the symbol “ARMK” and,
effective today, Vestis will begin “regular-way” trading on the
NYSE under the symbol “VSTS.”
“This is an exciting day for Aramark. The successful spin-off of
Vestis is a tremendous opportunity for both Aramark and Vestis to
independently build long-term value through a focused commitment to
serve customers and deliver on strategic priorities that leverage
our core strengths and expertise,” said Aramark’s Chief Executive
Officer, John Zillmer.
The spin-off was completed through a distribution to Aramark
stockholders of one share of Vestis common stock for every two
shares of Aramark common stock held as of the close of business on
September 20, 2023, the record date for the distribution. Cash will
be delivered in lieu of any fractional shares of Vestis stock.
Vestis shares were distributed at 12:01 a.m. Eastern Time on
September 30, 2023, in a distribution that is intended to be
tax-free to Aramark stockholders for U.S. federal income tax
purposes, except with respect to cash received in lieu of
fractional shares.
Goldman, Sachs & Co. LLC and J.P. Morgan Securities LLC
acted as financial advisors. Wachtell, Lipton, Rosen & Katz
served as legal counsel.
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 18
countries around the world with food and facilities management.
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 LinkedIn, Facebook, X (formerly known as
Twitter), and Instagram.
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.
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, including those risks
and uncertainties detailed from time to time in Aramark’s
cautionary statements contained in its filings with the Securities
and Exchange Commission. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231002711764/en/
Inquiries Felise Glantz Kissell (215) 409-7287
Kissell-Felise@aramark.com
Scott Sullivan (215) 238-3953 Sullivan-Scott@aramark.com
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