Aramark Corp., Philadelphia, recently announced that it has completed the spin-off of Vestis Corp., which holds Aramark’s uniform and workplace supplies business. Vestis is now an independent public company, according to a news release.
Aramark will continue to trade on the New York Stock Exchange (NYSE) under the symbol “ARMK” and, as of Oct. 2, Vestis began “regular-way” trading on the NYSE under the symbol “VSTS.”
“This is an exciting day for Aramark,” said Aramark’s CEO John Zillmer. “The successful spin-off of Vestis is a tremendous opportunity for both Aramark and Vestis to independently build long-term value through a focused commitment to serve customers and deliver on strategic priorities that leverage our core strengths and expertise.”
Goldman, Sachs & Co. LLC and J.P. Morgan Securities LLC acted as financial advisers. Wachtell, Lipton, Rosen & Katz served as legal counsel.
To read the full release, click here. For more information on Vestis Corp., visit www.vestis.com.
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