ARAMARK Completes Merger with Investor Group Led by CEO

PHILADELPHIA — ARAMARK Corp. has completed a merger in which it has been acquired by an investor group led by Joseph Neubauer, chairman and chief executive officer of ARAMARK, and investment funds managed by GS Capital Partners, CCMP Capital Advisors and J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus.
Approximately 250 ARAMARK senior managers are also investing in the transaction.
“We are pleased to complete this transaction,” says Neubauer, who remains chairman and CEO of ARAMARK. “I am particularly grateful for the support we have received from our people who have worked hard to deliver outstanding performance over many years, and our senior managers who will further dedicate themselves by making a significant investment in the company.
“This merger opens a new and exciting chapter in ARAMARK’s history. The new structure will enable us to fully unleash the company’s potential. Today, we are positioned to drive greater innovation, pursue strategic opportunities, and build sophisticated, long-term solutions that deliver the most value for our clients and customers around the world.
“As we invest in new strategies that will define the future of our industry, we will continue to build on our heritage of delivering value to our employees, our partners, our clients and our customers.”
On Aug. 8, 2006, ARAMARK announced that it had signed a definitive merger agreement in a transaction valued at approximately $8.3 billion, including the assumption or repayment of approximately $2 billion of debt. On Dec. 20, ARAMARK hosted a special meeting of its stockholders, during which 86% of the outstanding votes and 97% of the votes actually cast voted in favor of adopting the agreement.
ARAMARK shareholders are entitled to receive $33.80 in cash for each share of ARAMARK common stock held. The stock ceased trading on the New York Stock Exchange at market close on Jan. 26 and will no longer be listed.
ARAMARK considers itself a leader in professional services, providing food services, facilities management, and uniform and career apparel to healthcare institutions, universities and school districts, stadiums and arenas, and businesses around the world.
It provides uniform rental and leasing services to more than 400,000 customer accounts in 46 states from more than 200 service locations and distribution centers across the United States.
ARAMARK Healthcare manages large central laundries, shared service laundries and on-premise laundries for hospitals and senior living facilities. It oversees approximately 300 linen distribution management projects nationwide and handles more than 600 million pounds of textiles annually.


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