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Swisher Hygiene acquires Linen Services Plus
04 Apr '11
2 min read
Swisher Hygiene Inc, a leading provider of essential hygiene and sanitation products and services, announced that it has acquired Linen Services Plus, a Tennessee-based linen facility.
Linen Services Plus serves the Knoxville market and provides facilities services such as the processing and delivery of mats, bar towels and linen items to the foodservice and hospitality industries. Concurrent with the acquisition, Scott Mitchell, the owner of Linen Services Plus, will be joining Swisher Hygiene.
In addition to the acquisition, Swisher Hygiene is purchasing certain assets from the service divisions of two of its manufacturing partners. These divisions service distributors and end-customers in New York, Texas, Missouri and Kansas. In connection with each of these purchases, Swisher Hygiene will be hiring the respective service employees.
"We continue to gear up our presence in the linen, warewash and laundry markets and the purchases are another step in rounding out our full service coverage," said Steven R. Berrard, Chief Executive Officer of Swisher Hygiene. "We are very pleased to further enhance our capabilities through the addition of these key employee and distributor relationships."
Total consideration paid by Swisher Hygiene in connection with the acquisition and purchases includes $447,676 in cash, the assumption of certain liabilities and the issuance of up to 53,130 shares of common stock of Swisher Hygiene, subject to certain restrictions and conditions, including acceptance by the Toronto Stock Exchange.
Swisher Hygiene Inc is a NASDAQ and TSX listed company that provides essential hygiene and sanitation solutions to customers throughout much of North America and internationally through its global network of 81 company-owned operations, 6 franchises and 10 master licensees operating in countries across Europe and Asia.
Linen Services Plus serves the Knoxville market and provides facilities services such as the processing and delivery of mats, bar towels and linen items to the foodservice and hospitality industries. Concurrent with the acquisition, Scott Mitchell, the owner of Linen Services Plus, will be joining Swisher Hygiene.
In addition to the acquisition, Swisher Hygiene is purchasing certain assets from the service divisions of two of its manufacturing partners. These divisions service distributors and end-customers in New York, Texas, Missouri and Kansas. In connection with each of these purchases, Swisher Hygiene will be hiring the respective service employees.
"We continue to gear up our presence in the linen, warewash and laundry markets and the purchases are another step in rounding out our full service coverage," said Steven R. Berrard, Chief Executive Officer of Swisher Hygiene. "We are very pleased to further enhance our capabilities through the addition of these key employee and distributor relationships."
Total consideration paid by Swisher Hygiene in connection with the acquisition and purchases includes $447,676 in cash, the assumption of certain liabilities and the issuance of up to 53,130 shares of common stock of Swisher Hygiene, subject to certain restrictions and conditions, including acceptance by the Toronto Stock Exchange.
Swisher Hygiene Inc is a NASDAQ and TSX listed company that provides essential hygiene and sanitation solutions to customers throughout much of North America and internationally through its global network of 81 company-owned operations, 6 franchises and 10 master licensees operating in countries across Europe and Asia.
Swisher Hygiene Inc
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