Engine Capital Issues Open Letter to the Independent Directors of UniFirst Corporation

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12/01/2025 - 07:00 AM

Calls on the Independent Directors to Form a Special Committee with its own Independent Legal and Financial Advisors given General Counsel Michael Patrick’s Material Conflict

Urges the Independent Directors to Collectively Resign if the Croatti Trustees Continue to Refuse a Value-Maximizing Sale of the Company

Contends the Dual-Class Structure and Croatti Family’s Control over UniFirst is a Textbook Example of How Poor Governance Destroys Shareholder Value

Releases Investor Presentation and Launches Campaign Website at www.SaveUniFirst.com

NEW YORK--(BUSINESS WIRE)-- Engine Capital LP (together with its affiliates, “Engine” or “we”), a top five independent common stock shareholder of UniFirst Corporation (NYSE: UNF) (“UniFirst” or the “Company”) with ownership of approximately 3.2% of the Company’s outstanding shares of common stock, today released an open letter to the Company’s independent directors: Joseph M. Nowicki, Sergio A. Pupkin, Raymond C. Zemlin, Cecilia McKenney, and Michael Iandoli.

The full text of the letter can be accessed here.

Engine also released an investor presentation, which can be accessed here.

About Engine Capital

Engine Capital LP is a value-oriented special situations fund that invests both actively and passively in companies undergoing change.