G&K Services announces assets acquisition in US & Canada
20 Oct '05
2 min read
G&K Services Canada Inc, a leading supplier of industrial laundry services in Canada and a subsidiary of G&K Services Inc announced the acquisition of certain assets from Glis, a division of Glascar, Ltd, and Glis Laundries USA, Inc. Glis is a textile laundry company serving southwest Ontario and Detroit, Michigan. Glis Laundries USA, Inc. operates a cleanroom business-servicing customers in St. Louis, Missouri.
"They are pleased to announce this acquisition," said Robert Wood, President, G&K Services Canada Inc. "The addition of Glis strengthens their presence in these markets and leverages their existing capacity in Canada. They welcome Glis' customers and employees to G&K."
The acquisition, which adds approximately $6.0 to $7.0 million (U.S.) in annual revenue, expands G&K's uniform rental and facility services business in Canada. The acquisition also increases G&K's cleanroom business in North America.
"They continue to seek strategic acquisitions across North America," said Richard Marcantonio, G&K's President and Chief Executive Officer. "In Canada, they have significantly enhanced their leadership position through market expansion activities and acquisitions."
Due to a confidentiality agreement with the sellers, the purchase price cannot be disclosed. No further details were made available.
Headquartered in Minneapolis, Minnesota, G&K Services Inc is a market leader in branded identity apparel programs and facility services in the United States, and is the largest such provider in Canada. G&K operates over 140 processing facilities and branch offices, serving more than 160,000 customers.
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