07:02 AM EDT, 09/30/2024 (MT Newswires) -- Vestis ( VSTS ) said Monday it signed a deal to sell its 39% equity stake in Aramark Uniform Services Japan for about $37 million.

The company expects to close the transaction by the end of October and said it does not expect to record a material gain or loss as a result of the sale. Proceeds will be used to repay debt, Vestis ( VSTS ) added.