5th Mar 2014 07:42
LONDON (Alliance News) - Rentokil Initial PLC Wednesday said it has acquired Chilean pest control, hygiene and office services company Bestway, a deal that makes it the biggest hygiene services provider in the country and gives it a platform to expand in Colombia as it continues to expand in emerging markets.
No financial details for the deal were provided.
In a statement, Rentokil said it has bought Santiago-based Bestway from the Santa Cruz Negri family. It is the country's biggest hygiene services provider and its third-largest provider of pest control services. It posted revenue of GBP11 million in 2013 and employs about 274 people. Bestway also has a start-up operation in Colombia, mainly in Bogota.
"Bestway marks our entry into Chile and Colombia, two exciting new emerging markets for the group. We will continue to build our regional strength in Latin America through organic growth and our pipeline of further bolt-on acquisitions," Rentokil Chief Executive Andy Ransom said in a statement.
"We have been targeting Chile as the next step in our Latin America expansion strategy following acquisitions in Mexico and Brazil, both of which are performing ahead of our expectations," he added.
By Steve McGrath; [email protected]; @SteveMcGrath1
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