Rentokil Initial PLC. enters early agreement to acquire Terminix
In December 2021, Rentokil Initial PLC. expressed interest in acquiring Terminix in a stock and cash transaction. The merger significantly expands both company’s customer base, market share in North America and service offerings. Based on 2020 performances, the combined company would have reported an estimated $5.7 billion in revenue and $608.0 million in free cash flow. The companies expect annual pre-tax net cost synergies to surpass $150.0 million by year three, indicating significant opportunities to reduce costs and increase profitability. IBISWorld estimates the new company would have controlled 19.9% of the Pest Control market in the United States.
New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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