UniFirst Investor Third Avenue Management to Vote for Engine Capital Nominees

Dow Jones12-11

By Josh Beckerman

UniFirst shareholder Third Avenue Management said it will support Engine Capital's two board candidates, saying on Wednesday that UniFirst has had "an extremely disappointing record of shareholder value creation."

UniFirst provides uniforms, facility-service products and first aid and safety supplies. Engine has said the company should explore a sale and criticized its rejection of a buyout proposal from Cintas.

Proxy advisers Glass Lewis, Institutional Shareholder Services and Egan-Jones Ratings have recommended votes in favor of Engine candidates Arnaud Ajdler and Michael Croatti at the Dec. 15 shareholder meeting. River Road Asset Management said last week that it planned to vote for Engine's nominees.

In November, Wilmington, Mass.-based UniFirst said it reiterated confidence in its strategy and its ability to deliver long-term growth and value creation and said it is committed to strengthening and refreshing the board. It said Chairman Raymond C. Zemlin would retire.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 10, 2025 14:22 ET (19:22 GMT)

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