(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.
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