UniFirst Acquires Memphis (TN) Uniform Company
UniFirst Corp., Wilmington, MA, recently purchased Paramount Uniform, a family-owned uniform supplier based in Memphis, TN. Terms of the deal weren’t disclosed, according to news reports.
UniFirst provided the following statement on the deal:
“Paramount Uniform had been a strong service provider in the Greater Memphis area since 1974, maintained a strong reputation in the market, and, like UniFirst, was a family-run business. Over the years, UniFirst and Paramount leadership had the opportunity to meet on many occasions and UniFirst admired how well Paramount managed their business. Like UniFirst, Paramount had always remained committed to their customers, to their staff, and to continuous improvement. But, above all, they were consistently dedicated to delivering service excellence, as evidenced by their impressive customer base.”
“UniFirst has operated in the Greater Memphis market for many years, but never had a processing facility in the area. This market had historically been serviced by a UniFirst branch office, with uniforms and textiles being processed out of the company’s Nashville plant operation. The Paramount acquisition provides UniFirst with a processing facility right in the heart of the Memphis market, allowing for greater market expansion and improved service to area business customers.
“All of us at UniFirst are proud to have partnered with such an impressive operation and great people.”
Paramount had roughly 60 employees and annual revenues of almost $10 million at the time of the sale, according to Mickey Harlow, who owned and ran the company, according to news reports. Harlow’s father was one of the company’s founders. UniFirst noted that all Paramount employees are expected to remain with UniFirst during the transition period and for the long term, as UniFirst continually expands its presence servicing area businesses.
To read more, click here.