Aramark’s board of directors has approved the company’s tax-free spin-off transaction of its uniforms and workplace supplies business.

The spin-off is expected to be completed on September 30, and the newly formed company will be known as Vestis. Holders of Aramark common stock will be entitled to receive one share of Vestis common stock for every two shares of Aramark common stock held as of the close of business on September 20.

“This approval is an important milestone in establishing two distinct companies, both with a clear strategy for long-term value creation. Aramark will continue to operate as a global leader in food and facilities services, and Vestis will provide exceptional uniform and workplace supplies solutions under CEO Kim Scott,” said John Zillmer, Aramark CEO.

About Aramark
Aramark provides food services, facilities management, and uniform and career apparel to healthcare institutions, universities and school districts, stadiums and arenas, and businesses around the world. For more information, visit www.aramark.com.