Unifirst Corporation is facing shareholder activism led by Engine Capital LP, which owns approximately 3.2% of the company's outstanding shares. Engine Capital has nominated Arnaud Ajdler and Michael Croatti as director candidates for election at the company's 2026 Annual Meeting of Shareholders, scheduled for December 15, 2025. All three leading independent proxy advisory firms-Glass Lewis & Co., Egan-Jones Ratings Company, and Institutional Shareholder Services Inc.-have recommended that shareholders vote for Engine Capital's nominees using the BLUE universal proxy card. The proxy advisors cited concerns about the concentration of power in UniFirst's Class B shares, the Croatti family's control of major decisions, and the company's underperformance relative to competitors and the broader market. They also referenced Engine Capital's call for the board to consider strategic alternatives, including a possible sale of the company, following a recent premium bid by Cintas. The advisors highlighted issues of governance risk and misalignment of shareholder interests due to the controlling family's actions and reluctance to engage with credible buyers. Engine Capital encourages stakeholders to share confidential feedback regarding their experiences with UniFirst through a dedicated website.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Unifirst Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20251210815283) on December 10, 2025, and is solely responsible for the information contained therein.
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