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Rentokil Initial buys out large Florida pest control company

By Josh White

Date: Friday 01 Nov 2019

Rentokil Initial buys out large Florida pest control company

(Sharecast News) - Rentokil Initial announced the acquisition of Florida Pest Control on Friday, which it described as a service provider for commercial and residential customers, with 2018 revenues of $66m (£52m).
The FTSE 100 company said the deal was expected to complete later on Friday, or shortly thereafter.

It said Florida Pest Control, based in Gainesville, was established in 1949 and now employed 600 people in 20 branches throughout the central and northern parts of the state, including Orlando, Tampa, and Jacksonville.

"Florida Pest Control is a high-quality business with a great reputation for service delivery," said Rentokil Initial chief executive Andy Ransom.

"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 said it was continuing 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.

As at 0940 GMT, shares in Rentokil Initial were up 0.77% at 458.4p.

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