Aramark Spinoff Notes

September 8, 2023 Update

Aramark announced that it will spin off Vestis, its workplace uniform and supplies business, in a tax-free transaction on September 30, 2023.
The first day of trading will be October 2, 2023.
Aramark shareholders will receive 1 share of Vestis for every 2 shares of Aramark.

September 4, 2023 Update

On August 15 of this year, Aramark filed its Form 10 for the Uniform Spinoff

August 13, 2023 Update

May 16, 2023 Update

From Aramark’s May 2023 Earnings Call:

March 17, 2023 Update

Here are some updates from Aramark’s recent earnings call:

May 27, 2022 Update

This week, Aramark (ARMK) announced that it expects to spin-off Aramark Uniform Services (AUS) as an independent publicly traded company.

Aramark provides food and facilities services to companies in the education, sports, leisure, healthcare, and business sectors. While AUS provides work uniforms, for use in manufacturing, industrial, automotive, and food service industries. The spin-off makes sense as it would seem like there is little synergistic value in keeping the two business together as they serve two rather different end markets.

The transaction is intended to be a tax-free spin-off to Aramark and its stockholders, with an expected completion date by the end 2023.