Uniform Rental Leader Acquires Rival for 5.5 Trillion Won Amid Strong Performance

Cintas Corporation (CTAS) announced that net sales for the third quarter of fiscal 2026, ended February 28, totaled $2.84 billion (approximately KRW 3.7 trillion), up 8.9% year over year, while its gross margin rate reached a record high of 51%.

Organic sales increased 8.2%, diluted earnings per share rose 9.7% to $1.24, and the company raised its full-year fiscal 2026 revenue guidance—excluding non-recurring costs related to the UniFirst acquisition—to a range of $11.21 billion to $11.24 billion (approximately KRW 14.6 trillion).

On March 27, Cintas Corporation No. 2, a wholly owned subsidiary, secured a new $2.0 billion unsecured revolving credit facility maturing March 27, 2031, establishing a long-term funding base to support acquisition financing and working capital needs.

On April 14, the board approved a quarterly cash dividend of $0.45 per share, payable June 15, marking 42 consecutive years of dividend payments since the company’s initial public offering.

Earlier, on March 11, Cintas signed a definitive agreement to acquire uniform-rental competitor UniFirst in a transaction valued at approximately $5.5 billion in cash and stock (approximately KRW 7 trillion). The deal is advancing through shareholder and regulatory approvals, with a targeted closing in the second half of 2026.

Headquartered in Ohio, Cintas provides B2B uniform rental and facility services—including uniforms, mats, cleaning supplies, first-aid and safety products, and fire-equipment inspections—and is listed on the Nasdaq Global Select Market as a component of the S&P 500 and Nasdaq 100 indexes.

Through decades of organic growth and strategic acquisitions, Cintas has built a leading position in the North American uniform rental and facility-services market, and the completion of the UniFirst transaction is expected to further expand its industry influence.