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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Cintas Corporation    CTAS

CINTAS CORPORATION

(CTAS)
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Cintas Corporation : Expands Uniform Services in Europe

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01/08/2013 | 10:10am EST

London-based team enhances award-winning apparel and customized design services throughout Europe

Cintas Corporation (NASDAQ: CTAS), a world leader in corporate identity uniforms, announced today a new commercial partnership with The CALVELEX GROUP to expand Cintas' uniform design, production and support services in Europe. The new partnership enables Cintas to accommodate increasing demand for corporate apparel services in Europe and further elevate customer service and satisfaction for existing clientele in the U.K., including Marriott, Hilton and Four Seasons.

"We are thrilled to grow Cintas' presence in Europe and, for the first time, offer inventory, distribution and manufacturing capabilities at the local level," said Rob Pollock, Senior Director of Sales, Cintas Hospitality UK Limited. "By increasing the availability and breadth of our products and services in Europe, we can more quickly and efficiently support local hoteliers as they plan, create and implement uniform programs that ensure brand consistency with a regional flair."

Cintas' European uniform business specializes in custom-designed uniform programs for four- and five-star hotels. The company's team of international style consultants is led by Haley Sovitch, who brings clients years of experience and expertise in fashion design, development, production and account management. Prior to joining Cintas, Sovitch worked with multiple renowned designers, including Yves Saint Laurent, Jasper Conran and Jean Paul Gaultier.

"Cintas' expansion in Europe allows us to take our client relationships to new heights," said Todd McKeown, Vice President Global Hospitality and Gaming, Cintas. "By further expanding our capabilities overseas, we can better serve our U.S. clientele as they assert their brands and enhance their operations in Europe, while also bringing a new offering to European brands."

"We are pleased to partner with Cintas on this initiative in Europe," said Cesar Araujo, Owner of The CALVELEX GROUP. "With their experience and relationships in the hospitality industry, they are ideally positioned for success, and we look forward to supporting their growth through our cutting-edge technological equipment and production processes, punctual deliveries and certified management system."

For more information about Cintas' European uniform business, please visit www.cintas.com/europe.

About Cintas Corporation:

Headquartered in Cincinnati, Cintas Corporation provides highly specialized services to businesses of all types primarily throughout North America. Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom cleaning and supplies, tile and carpet cleaning, promotional products, first aid, safety, fire protection products and services and document management services for more than 1 million businesses. Cintas is a publicly held company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of the Standard & Poor's 500 Index.

About The CALVELEX GROUP

Calvelex is a long standing family business with 700 highly trained employees which marries traditional tailoring with the most modern equipment to provide garments of truly exceptional quality to many top designers, high-end retailers, and airlines.

Mulberry Marketing Communications
Nicole DiVito, 312-664-1532
ndivito@mulberrymc.com


© Business Wire 2013
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Financials (USD)
Sales 2020 7 329 M
EBIT 2020 1 287 M
Net income 2020 952 M
Debt 2020 2 567 M
Yield 2020 0,84%
P/E ratio 2020 32,7x
P/E ratio 2021 29,9x
EV / Sales2020 4,43x
EV / Sales2021 4,16x
Capitalization 29 897 M
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 277,83  $
Last Close Price 288,16  $
Spread / Highest target 14,5%
Spread / Average Target -3,58%
Spread / Lowest Target -48,3%
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Scott Douglas Farmer Chairman & Chief Executive Officer
Todd M. Schneider Chief Operating Officer & Executive Vice President
J. Michael Hansen CFO, Principal Accounting Officer & Executive VP
Matt Hough Chief Information Officer & Vice President
Richard T. Farmer Chairman-Emeritus
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