K-Bro Announces Transformative Acquisition of U.K.-Based Star Mayan for £107 Million (C$199 Million) and Concurrent C$70 Million Subscription Receipt Offering

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EDMONTON, Alberta, May 13, 2025 (GLOBE NEWSWIRE) -- K-Bro Linen Inc. (“K-Bro” or the “Corporation”) (TSX:KBL) is pleased to announce that it has signed a share purchase agreement with STAR Capital Partnership LLP to acquire 100% of U.K.-based STAR Mayan Limited (“Star Mayan”) for a cash purchase price of £107.2 million (approximately C$199.1 million), on a cash-free, debt-free basis, including a normalized level of working capital (the "Acquisition"). The Acquisition is highly complementary to K-Bro's existing U.K. businesses, Fishers and Shortridge. K-Bro’s combined U.K. platform creates a national footprint in the U.K.'s £1.6 billion commercial laundry and textile rental market.

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