Rentokil Initial PLC (LSE:RTO) has announced the acquisition of India’s second-largest pest control company, HiCare.
Covering commercial, residential and termite pest control, HiCare has 30 branches in India and fits Rentokil’s plans to expand into the country, the firm said on Tuesday.
“India's increasing urban population, growing middle classes and largely tropical climate makes it one of our key targets for future growth,” chief executive Andy Ransom said.
“With over 6,000 small pest control companies in India, the roll-up merger and acquisition opportunity remains significant.”
HiCare has been owned by private equity firm True North since 2014 and is being taken over for an undisclosed sum.
Pest control specialist Rentokil had faced a blow in October after warning on trading in its US business, though shares rebounded early last month upon reassurances things were better than hoped.
Shares dipped 0.2% to 470.70p on Tuesday.