Markets

Mitsui To Buy Vestis' Stake In Aramark Uniform Services

September 30, 2024 — 07:11 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Mitsui & Co., Ltd. (MITSF.PK, MITSY.PK), a diversified business company, announced on Monday that it will buy a minority stake of 39.2 percent in Aramark Uniform Services Japan Corp. from Vestis Uniforms and Workplace Supplies, Inc. (VSTS), a rental uniforms and workplace supplies company.

Mitsui plans to complete the acquisition by October 2024.

AUSJ is a Japanese uniform rental service business and has been a consolidated subsidiary of Mitsui.

The acquisition of the remaining shares will take Mitsui's shareholding to 78.4 percent.

Aim Services Co., Ltd., a wholly owned subsidiary of Mitsui, holds 21.6 percent of AUSJ, taking Mitsui's ownership to 100 percent post acquisition.

Founded in 1988, AUSJ is a joint venture by a group of companies including Mitsui and Vestis' former parent company Aramark Corporation, to provide uniform rental services in Japan.

RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source

Tags

Markets
Stocks Mentioned
VSTS

Latest Articles
Data is currently not available