Ecolab to Acquire Select Assets of Swisher Hygiene
US-based Ecolab, the global leader in water, hygiene and energy technologies and services, has agreed to buy the US operations of Swisher Hygiene for approximately $40 million. Based in Charlotte, North Carolina, Swisher Hygiene provides hygiene and sanitizing solutions for the foodservice, hospitality, retail and healthcare markets. Sales in 2014 for the operations included in the agreement were approximately $176 million.
Douglas Baker, Ecolab’s chairman and CEO, said: “This attractive transaction will expand our institutional customer base and service coverage. The addition of Swisher Hygiene's US portfolio of independent restaurants complements Ecolab's presence in national restaurant chains.”
The transaction is expected to close in the fourth quarter of 2015, subject to approval from Swisher Hygiene’s stockholders as well as the usual closing conditions.
Ecolab posted sales of $14 billion in 2014.
