OREANDA-NEWS. March 22, 2017. Cintas Corporation (Nasdaq: CTAS) announced today that it completed the previously announced acquisition of G&K Services, Inc. (“G&K Services”) for approximately $2.2 billion, including acquired net debt.  G&K Services shareholders previously voted to approve the transaction at G&K Services’ annual meeting of shareholders held on November 15, 2016. On March 17, 2017, Cintas reported that it had received all necessary regulatory consents related to this acquisition with no divestiture requirements. 

The combined company is expected to have annual revenues in excess of $6 billion and will serve over one million business customers.  Scott D. Farmer, Cintas Chief Executive Officer, stated, “We are very pleased to complete this transaction, and we welcome all G&K Services customers and employees into Cintas.  We look forward to an exciting future together.”

The combination of Cintas and G&K Services is an important investment that we expect will improve our service capabilities for the benefit of our customers, provide more opportunities for Cintas and former G&K Services employees, whom we call partners, and will contribute to continued growth in revenue and earnings per share.  Cintas anticipates realizing annual synergies in the range of $130 million to $140 million.  These synergies are expected to be realized in their entirety in the fourth full year after closing.

About Cintas:  

Cintas Corporation helps more than one million businesses of all types and sizes get READY™ to open their doors with confidence every day by providing a wide range of products and services that enhance our customers’ image and help keep their facilities and employees clean, safe and looking their best. With products and services including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety and compliance training, Cintas helps customers get Ready for the Workday®.Headquartered in Cincinnati, Cintas is a publicly held company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index.