PHILADELPHIA–(BUSINESS WIRE)–September 5, 2023– Aramark (NYSE: ARMK), a global leader recognized in food, facilities management, and uniforms, has officially announced the new name for its uniform services business: Vestis™. This unveiling comes as Aramark progresses with the planned spin-off of its Aramark Uniform Services (AUS) division, set to become an independent, publicly traded entity, known as Vestis Uniform Company.
The name “Vestis,” derived from Latin, meaning garments and clothing, perfectly encapsulates the essence of the uniform rental services offered by the company. It’s rooted in the linguistic origin of “to dress” across various languages and carries a deeper significance, echoing the Latin adage “vestis virum facit,” or “clothes make the person.” Vestis Uniform Company will operate under the descriptor “Uniforms and Workplace Supplies,” clearly defining the comprehensive scope of its services.
Kim Scott, President and CEO of Aramark Uniform Services and the designated CEO of Vestis Uniform Company, stated, “Our new name, Vestis Uniform Company, directly reflects our organizational purpose. We are dedicated to delivering uniforms and workplace supplies that enable individuals to perform their jobs effectively and contribute positively in their workplaces.” Scott further added, “We value our customer relationships and are committed to providing services and products that ensure their teams are equipped for confidence, comfort, and safety every day. The future as an independent, publicly traded Vestis Uniform Company is exciting, and we are confident in the positive trajectory for our employees, clients, and shareholders.”
Vestis Uniform Company will continue its commitment to offering a wide range of uniforms, alongside comprehensive full-service rental programs and essential workplace supplies. Their extensive service portfolio includes vital items such as floor mats, towels, linens, managed restroom services, specialized cleanroom garments, and first aid supplies. Upon finalizing its separation from Aramark, Vestis Uniform Company will consist of approximately 20,000 employees, catering to around 300,000 customer locations.
Aramark’s Chief Executive Officer, John Zillmer, commented on this significant step, “Today’s announcement marks a key milestone for both Aramark and its uniform services business. We are progressing towards the creation of two distinct industry-leading entities, each focused on their specific core competencies and areas of expertise. I have strong faith in the highly experienced leadership team at Vestis Uniform Company and their strategic vision. I anticipate their continued success and future achievements.”
Alongside the company name reveal, Vestis Uniform Company has also introduced its new corporate logo. The logo features a dynamic blend of orange and navy blue, designed to convey both approachability and energy, balanced with a sense of reliability and extensive industry experience in the industrial laundry sector. The logo subtly incorporates a shirt collar design, which also visually represents the letter “V” for Vestis. The complete transition to the new logo and brand identity for Vestis Uniform Company will occur after the separation transaction is finalized.
Vestis Uniform Company Analyst Day
Vestis Uniform Company is set to provide a more in-depth look into its strategic framework for future value creation at its upcoming Analyst Day. This event is scheduled for Wednesday, September 13th, 2023, and will be broadcasted live via webcast starting at 9:00 am ET on the Aramark Investor Relations website. Interested parties are encouraged to attend this virtual event to gain further insights into Vestis Uniform Company’s strategic direction.
About Vestis Uniform Company
Vestis Uniform Company is in the process of being established as an independent, publicly traded entity, currently operating under Aramark as Aramark Uniform Services. Vestis Uniform Company stands as a prominent leader in the B2B uniform and workplace supplies sector. They are dedicated to delivering dependable clean and safe uniform services and workplace products to a diverse clientele across North America. Their customer base ranges from Fortune 500 corporations to local small businesses, spanning numerous market sectors. Vestis Uniform Company’s service offerings are comprehensive, including full-service uniform rental programs, specialized processing for cleanroom and other unique garments, floor mats, towels, linens, managed restroom solutions, and first aid supplies, among others.
About Aramark
Aramark (NYSE: ARMK) is a respected global provider of food, facilities, and uniform services to a wide array of clients, including leading educational institutions, Fortune 500 companies, championship sports teams, healthcare providers, and cultural destinations across 19 countries. Rooted in a culture of service, Aramark’s employees are committed to making a positive impact on each other, their partners, communities, and the environment. Aramark’s commitment to excellence has been recognized through numerous accolades, including FORTUNE’s “World’s Most Admired Companies,” DiversityInc’s “Top 50 Companies for Diversity,” Newsweek’s “America’s Most Responsible Companies 2023,” and a 100% score on the Disability Equality Index. To discover more about Aramark, please visit www.aramark.com and connect on Facebook, Twitter, and LinkedIn.
Forward-Looking Statements
This announcement contains predictive statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements that are not purely historical are classified as forward-looking. Specifically, details regarding the anticipated timeline for the Uniform Services spin-off fall under this category. Such statements can often be identified by terms like “believe,” “should,” “could,” “potential,” “continue,” “expect,” “project,” “estimate,” “predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,” “target,” “is likely,” “will,” “can,” “may” or “would” and similar expressions. All forward-looking statements are inherently subject to risks, uncertainties, and assumptions that may cause actual outcomes to differ materially from projected results. These risks include, but are not limited to, factors related to the impact, timing, and conditions of the proposed spin-off of Aramark Uniform Services; the expected benefits and costs of the spin-off, including the possibility that anticipated benefits may not be fully realized or within expected timeframes, or at all, and that conditions for the spin-off may not be met, or that the spin-off may not occur as planned or within the expected timeframe; the tax-free qualification of the spin-off for U.S. federal income tax purposes, including the possibility of not obtaining an IRS ruling; risks related to required consents or approvals not being received in a timely manner or at all; risks associated with financing activities related to the spin-off and related indebtedness; potential increased costs from lost synergies, restructuring, and other spin-off related expenses; retention of key management personnel; market reactions from customers, employees, and other stakeholders; and the broader impacts of the spin-off on business operations, including potential difficulties, delays, or unexpected costs, diversion of management attention, and impacts on relationships with stakeholders, as well as other operational, financial, and legal risks detailed in Aramark’s SEC filings. These forward-looking statements are relevant only as of the release date, and Aramark undertakes no obligation to update or revise them unless required by federal securities laws.
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Investors
Michael Aurelio, CFA
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Media
Danielle Holcomb
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Source: Aramark
