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USA : Uniform maker UniFirst to sell $30mn worth stock |
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2005-7-25
Uniform provider UniFirst Corporation has been informed The Croatti Family Limited Partnership, an investment entity controlled by the Croatti family, several of whom are officers and affiliates of UniFirst, is entering into 10b5-1 sales plans for the sale of up to $30 million worth of UniFirst stock through 2008.
UniFirst expects approximately $6 million will be sold by the end of 2005, and thereafter sales will be made evenly throughout this period resulting in sales of approximately $2 million per quarter. The Partnership is selling the shares in connection with estate planning objectives.
UniFirst is one of the largest providers of workplace uniforms, protective clothing and facility services products in North America. The Company employs 9,000 team partners who serve more than 175,000 customer locations in 46 states, Canada and Europe from 175 manufacturing, distribution and customer service facilities.
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