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Rentokil Initial acquires Florida Pest Control

The FTSE 100-listed business services group said it expects to complete the deal late Friday or “shortly thereafter”

Rentokil Initial - Rentokil Initial acquires Florida Pest Control
Florida Pest Control had 2018 revenues of US$66mln

Rentokil Initial PLC (LON:RTO) has announced the acquisition of US firm Florida Pest Control, a pest management business with 2018 revenues of US$66mln.

The FTSE 100-listed business services group said it expects to complete the deal late Friday or “shortly thereafter”.

READ: Rentokil and Mitie kept waiting over pest control deal

“Florida Pest Control is a high-quality business with a great reputation for service delivery,” Rentokil Initial’s chief executive Andy Ransom said in a statement.

“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,” he added.

Rentokil shares rose 1% to 460.4p early on Friday morning.

Quick facts: Rentokil Initial

Price: 472.1 GBX

LSE:RTO
Market: LSE
Market Cap: £8.75 billion
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