PHILADELPHIA — Aramark, a provider of food, facilities management, and uniforms, reports that its Board of Directors approved the previously announced tax-free spin-off transaction of its uniforms and workplace supplies business, which will be named Vestis.
The spin-off is expected to be completed on Sept. 30 and will be effected through a pro rata distribution of the common stock of Vestis Corp.
“Vestis” is the Latin word for garments and clothing and is the foundation of the words “to dress” in several languages.
The company says the name captures its uniform rental services business offering. It also has a deeper meaning when it is used in the Latin phrase “vestis virum facit” or “clothes make the person.”
Vestis will use the descriptor “Uniforms and Workplace Supplies” to describe the full breadth of its offering.
“Our new name, Vestis, connects us to our purpose as an organization: deliver uniforms and supplies that empower people to do good work and good things for others while at work,” says Kim Scott, president and CEO of Aramark Uniform Services and appointed CEO of Vestis.
“We are grateful to our customers for the opportunity to continue to deliver services and products that help their teammates work confidently, comfortably, and safely each day.
“We are also excited about our future as an independent, publicly traded company and we remain confident that great things are ahead for our teammates, customers, and shareholders.”
Vestis will continue to offer uniforms, as well as full-service rental programs and workplace supplies. Its comprehensive service offering includes floor mats, towels, linens, managed restroom services, cleanroom and first aid supplies.
Upon the completion of the separation from Aramark, Vestis will have about 20,000 teammates and serve approximately 300,000 customer locations.
John Zillmer, Aramark’s CEO, says, “This announcement is a milestone moment for Aramark and our uniforms business. We are on the path to creating two independent industry leaders able to focus solely on their core strengths and expertise.
“I have confidence in the deeply experienced leadership team at Vestis and their strategic vision, and I look forward to seeing the team continue to achieve great things in the future.”
Vestis also released its new company logo, a bold and complementary combination of orange and navy blue that exudes warmth and a new energy, balanced by its strong confidence and deep experience in the industrial laundry industry.
The mark resembles a shirt collar, which also represents the “V” in Vestis. The company will transition to this logo and other brand identity elements following the transaction completion.
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Aramark Announces Board of Directors for Uniform Services Spin-Off, Aug. 21, 2023
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