Vestis to Sell Japan Venture Stake to Mitsui for $37 Million
By Colin Kellaher
Vestis has agreed to sell its 39% stake in Aramark Uniform Services Japan to majority owner Mitsui for about $37 million.
Vestis on Monday said it will use proceeds from the sale to repay debt, adding that it doesn't expect to record a material gain or loss as a result of the deal.
Aramark Uniform Services Japan is a provider of uniform rental services that was established in 1988 as a venture among a group of companies including Vestis' former parent Aramark, which spun off the Roswell, Ga., provider of uniforms and workplace supplies last year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 30, 2024 06:57 ET (10:57 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst