“The share repurchase program further demonstrates our confidence in our strategic plan, the strength of our business model and our commitment to delivering increasing shareholder value,” said Richard Marcantonio, G&K’s chairman and chief executive officer. “Our strong balance sheet and solid cash flow generation provides the flexibility to continue to invest in our business, to pursue strategic growth opportunities including acquisitions, and to repurchase our shares.”
The Company plans to repurchase shares from time to time in open market, privately negotiated or other transactions in accordance with applicable federal securities laws. The timing and the amount of the repurchases will be determined by the Company’s management based on its evaluation of market conditions, share price and other factors.
