Home / Knowledge / News / Apparel/Garments / UniFirst Corp completes acquisition of Arrow Uniform
UniFirst Corp completes acquisition of Arrow Uniform
21
Sep '16
Courtesy: Arrow Uniform
Courtesy: Arrow Uniform
North American supplier of uniform and workwear programs, UniFirst Corporation said it has completed the acquisition of Arrow Uniform, also a uniform and FS service provider, in an all cash transaction for around $122 million. So, while UniFirst has acquired substantially all of Arrow's assets, it has received virtually none of Arrow's liabilities.

UniFirst expects the Arrow acquisition to add around $62 to $65 million to its fiscal 2017 revenues and also the deal to be dilutive to earnings in the same fiscal, partially the result of non-cash purchase accounting charges.

Arrow Uniform headquartered in Taylor, Michigan operates through 12 locations and nearly 700 employees in five mid-western US states.

UniFirst CEO Ronald Croatti said, “Business acquisitions have historically been an integral part of UniFirst's growth strategy, and we'll continue to seek out opportunities that make sense for us and meet our long-term business goals.”

“After the closing of the Arrow deal, we will still have around $240 million in cash on hand and significant borrowing capacity available under our line of credit for additional acquisitions or other capital allocation options,” he added. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jun 2021

80% of unwanted textiles in Australia’s NSW end up in landfill in 2020

Of almost 305,000 tonnes of textiles discarded in Australia’s New...

Pic: Shutterstock

Textiles | On 19th Jun 2021

More than 75% of S Korean exporters to China hit by pandemic: survey

A survey of 540 South Korean exporting firms by the Korea...

Pic: Shutterstock

Textiles | On 19th Jun 2021

Reimagine India’s innovation agenda for textile-apparel sector: Koshy

Resetting and reimagining the innovation agenda for the...

Interviews View All

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search