Elis Ends Acquisition Talks With US Rivals UniFirst, Vestis (1)

Elis SA, the Paris-listed provider of uniform and linen cleaning services, has scrapped acquisition talks with two US competitors.

The French company held discussions with both UniFirst Corp. and Vestis Corp. as part of its exploration of an entry into the US market, it said in a statement Friday following a Bloomberg News report. Talks with both companies have now been terminated, as “neither would have allowed Elis to complete a transaction that would be in line with the company’s strict financial discipline.”

Shares of Elis gained as much as 15% on Friday after the announcement and were ...