1st Nov 2019 08:27
(Alliance News) - Rentokil Initial PLC said Friday it has acquired Florida Pest Control, a service provider for commercial and residential customers.
The London-listed pest control and hygiene firm said Florida Pest Control had USD66 million in revenue in 2018. The Gainesville-based company was established in 1949 and today employs 600 people in 20 branches throughout central and northern Florida.
Rentokil did not give any financial details of the acquisition, but said that the deal is expected to complete later Friday or shortly thereafter. It said Florida Pest Control will contribute towards it North American revenue and margin targets.
Andy Ransom, chief executive officer of the company, said: "This acquisition is very much in line with our strategy to acquire pest control businesses that build customer density and add to our scale in key local markets, and will make a strong contribution towards our North American revenue and margin targets."
Rentokil shares were up 1.2% in London at 459.80 on Friday morning.
By Loreta Juodagalvyte; [email protected]
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