SpaceX IPO is the biggest IPO in stock market history. Join the conversation.Click here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRentokil Initial Regulatory News (RTO)

Share Price Information for Rentokil Initial (RTO)

Share Price is delayed by 15 minutes
Get Live Data
453.60    3.80 (0.84%)
Bid:
452.90
Ask:
453.20
Spread: 0.30 (0.066%)
Market Cap: £11.41b
RTO Live PriceLast checked at - London Stock Exchange

Intraday Rentokil Initial Share Chart

Acquisition

28 Aug 2015 07:07

RNS Number : 4055X
Rentokil Initial PLC
28 August 2015
 



28 August 2015

Acquisition of Anderson Pest Solutions, USA

 

Rentokil Initial plc (FTSE: RTO, "the Company") announces the continued expansion of its pest control business with the acquisition of Chicago-based Anderson Pest Solutions ("Anderson"). Its annualised revenues for the 12 months prior to acquisition were $21m.

 

The acquisition is in line with the Company's strategy of continued acceleration of its pest control business and pursuing acquisition targets in higher growth markets. It also builds customer density, primarily in the Chicago metropolitan area.

Andy Ransom, Chief Executive of Rentokil Initial plc, said:

"We are delighted to join forces with Anderson Pest Solutions in the Chicago area. It is a well-established and highly respected business, and with long-term customer relationships.

"With an 80% commercial portfolio, areas of potential growth include introducing additional services such as Rentokil's bird control and bioremediation expertise to Anderson's customer base, but also the benefits that Anderson's particular expertise in eco-effective pest control will bring to us.

"North America is an important growth market for the Company and our pipeline of acquisitions in pest control remains strong as we expect to continue the acceleration in pest control and deliver the next phase in our plan for profitable growth."

 

Rentokil North America Strategy and Performance

· North America is a key strategic market in our Growth quadrant.

· As set out in the recent Rentokil Pest Control seminar, North America is the largest pest control market worldwide, with an estimated growth rate of ~3.5% in 2014.

· The Company's strategy for strong growth and rising margins in North America is to: increase scale in commercial pest control; drive profitability through route density building by the in-fill of areas with lower customer penetration; extend coverage and capability for national accounts; accelerate growth through M&A; and target local organic growth using the Rentokil model of targeted sales activity, upselling additional services, investment in brand building and high standards of customer satisfaction leading to customer retention.

· In the first six months of 2015, Rentokil Initial's North America region revenue grew 8.3%, with strong profit growth of 19.5% driven by acquisitions and leverage impact from higher revenues.

 

ENDS

 

Investor / Analyst enquiries:

Katharine Rycroft, Investor Relations, Rentokil Initial plc 07811 270 734

 

Media enquiries:

Malcolm Padley, Corporate Communications, Rentokil Initial plc 07788 978 199

 

About Rentokil Initial plc

Rentokil Initial is one of the largest business services companies in the world, operating in over 60 countries. The Company offers route-based services including Pest Control, Hygiene and Workwear through teams of local experts.

www.rentokil-initial.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
ACQUWUVRVWAWURR
Date   Source Headline
7th Mar 20061:38 pmRNSAcquisition
3rd Mar 200610:33 amRNSMTN Programme
1st Mar 200610:45 amRNSAcquisition
23rd Feb 20067:02 amRNSFinal Results
20th Feb 20063:40 pmRNSStatement re Head Office
8th Feb 20067:00 amRNSStatement re Manned Guarding
25th Jan 200610:00 amRNSClosure of Activity
24th Jan 20067:01 amRNSAcquisition
6th Jan 20064:08 pmRNSHolding(s) in Company
21st Dec 20053:42 pmRNSEMTN Programmes
19th Dec 200510:25 amRNSPension Scheme Deficit
9th Dec 20055:48 pmRNSPublication of Prospectus
6th Dec 20054:12 pmRNSDisposal
29th Nov 20057:03 amRNSDisposal of Style Conferences
7th Nov 20052:08 pmRNSHolding(s) in Company
3rd Nov 20057:01 amRNSTrading Statement
1st Nov 200511:13 amRNSHolding(s) in Company
26th Oct 20052:51 pmRNSTrading Statement
25th Oct 20052:35 pmRNSHolding(s) in Company
25th Oct 20057:00 amRNSInitial City Link
21st Oct 20051:33 pmRNSResponse to Raphoe
20th Oct 200510:00 amRNSDirectorate Change
18th Oct 20053:18 pmRNSEPT Disclosure - Amendment
18th Oct 20052:26 pmRNSEPT Disclosure - Amendment
18th Oct 200511:00 amRNSRule 8.3- Rentokil Init PLC
17th Oct 20052:00 pmRNSResponse to Raphoe
17th Oct 200511:48 amRNSRule 8.3- Rentokil Init PLC
17th Oct 200511:43 amRNSEPT Disclosure
14th Oct 200512:02 pmRNSEPT Disclosure - CFD
14th Oct 200511:43 amRNSEPT Disclosure
14th Oct 200511:20 amRNSRule 8.3- Rentokil Initial
14th Oct 20057:00 amRNSRule 8.3- Summary
13th Oct 20056:25 pmRNSRule 8.3-Rentokil Initial PLC
13th Oct 20055:32 pmRNSEPT Disclosure - Amendment
13th Oct 200511:40 amRNSEPT Disclosure
12th Oct 20053:23 pmRNSEPT Disclosure - Amendment
12th Oct 200511:55 amRNSRule 8.3- Rentokil Initial pl
12th Oct 200511:37 amRNSEPT Disclosure
12th Oct 200511:17 amRNSRule 8.3- Rentokil Initial
12th Oct 200511:07 amRNSRule 8.3 Rentokil Initial PLC
12th Oct 20059:45 amRNSRule 8.3-Rentokil Initial PLC
11th Oct 200511:17 amRNSEPT Disclosure
10th Oct 200512:12 pmRNSEPT Disclosure - CFD
10th Oct 200511:25 amRNSEPT Disclosure
7th Oct 20056:12 pmRNSEPT Disclosure - Amendment
7th Oct 20053:23 pmRNSEPT Disclosure - Amendment
7th Oct 200511:39 amRNSEPT Disclosure
7th Oct 200511:28 amRNSRule 8.3-Rentokil Initial PLC
7th Oct 200511:03 amRNSRule 8.3- Rentokil Init PLC
7th Oct 20058:49 amRNSRule 8.3-Rentokil Initial PLC

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.