Vestis to Sell Japan Venture Stake to Mitsui for $37 Million
Provided by
Dow Jones
By Colin Kellaher
Vestis has agreed to sell its 39% stake in Aramark Uniform Services Japan to majority owner Mitsui for about $37 million.
Vestis on Monday said it will use proceeds from the sale to repay debt, adding that it doesn't expect to record a material gain or loss as a result of the deal.
Aramark Uniform Services Japan is a provider of uniform rental services that was established in 1988 as a venture among a group of companies including Vestis' former parent Aramark, which spun off the Roswell, Ga., provider of uniforms and workplace supplies last year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 30, 2024 06:57 ET (10:57 GMT)
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