OTCPK:SWSH - Post by User
Post by
JoeBaggson May 19, 2011 10:41am
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Post# 18600116
Swisher Acquires Wingspan
Swisher Acquires Wingspan
CHARLOTTE, N.C., May 19, 2011 (GLOBE NEWSWIRE) -- Swisher Hygiene, Inc. ("Swisher Hygiene") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitation products and services, today announced that it has acquired the hygiene and chemical business of Wingspan Service Corporation ("Wingspan"), its sole remaining California franchisee.
Wingspan is one of the longest operating Swisher Hygiene franchisees, having been a part of the Swisher Hygiene system since 1996. Wingspan's franchise territory encompasses the greater San Francisco, Marin, Napa and Sacramento markets, extending from San Francisco to the Nevada border.
"We are excited to bring our Sacramento franchisee fully on board as we further expand our California presence," said Steven R. Berrard, chief executive officer of Swisher Hygiene. "I'd like to thank the Wingspan team for their loyalty to Swisher Hygiene over the last 15 years as they've helped establish the Swisher Hygiene brand in northern California."
Total consideration paid for by Swisher Hygiene in connection with the acquisition includes $750,000 in cash and the issuance of 220,834 shares of Swisher Hygiene common stock subject to certain restrictions, including acceptance by the Toronto Stock Exchange.