UniFirst Under Fire: Activist Demands Sale After Rejecting $275 Cintas Bid!

UniFirst is once again in the activist spotlight after Engine Capital publicly urged the company’s Board of Directors to explore a sale, escalating tensions that have been building since UniFirst rejected a premium all‑cash takeover offer from Cintas earlier this year. Engine Capital, which holds a 3.2% ownership stake, criticized the Board for prioritizing the interests of company trustees over those of ordinary shareholders—pointing specifically to the decision to turn down Cintas’ January proposal to acquire both UniFirst’s common and Class B stock for $275 per share, a premium valuation at the time. Engine argued that the Board’s refusal represented entrenched governance rather than strategic judgment. The activist has now nominated two directors—Managing Member Arnaud Ajdler and former UniFirst consultant Michael Croatti—to push for an independent process evaluating strategic alternatives, including a full sale of the company. The call comes as UniFirst continues to navigate margin pressure, tariff headwinds, and elevated investment spending, even as operational metrics such as retention and sales effectiveness show early signs of improvement. Against this backdrop, Engine asserts that shareholders deserve a transparent review of UniFirst’s standalone prospects relative to the premium previously on the table.