Rentokil Initial Plc - Acquisition of Florida Pest Control, USA
Acquisition of Florida Pest Control, USA
Rentokil Initial plc (FTSE: RTO, "the Company") today announces the acquisition of Florida Pest Control - a high quality service provider for commercial and residential customers with 2018 revenues of $66m (£52m). It was ranked 16th in the PCT Magazine 2019 Top 100 listing of leading US pest control companies. The deal is expected to complete later today or shortly thereafter.
Based in Gainesville, Florida Pest Control was established in 1949 and today employs 600 people in 20 branches throughout central and northern Florida (including Orlando, Tampa, and Jacksonville).
Andy Ransom, CEO of Rentokil Initial plc, said:
"Florida Pest Control is a high-quality business with a great reputation for service delivery. Both companies have shared values focused on supporting colleagues and providing a great service for customers, and I'd like to welcome our new colleagues to Rentokil Initial.
"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 continues to build its presence in the South East of the United States following other pest control acquisitions in the region including Oliver Exterminating, Allgood, Active, Heron, Johnson and Russell Pest Control.