Roto-Rooter Buys Five Northern California Franchises
Chemed Corp (CHE)
Last chemed corp earnings: 4/28 04:15 pm
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Source: PR Newswire
CINCINNATI, Oct. 1, 2018 /PRNewswire/ -- Roto-Rooter Services Company, a wholly owned subsidiary of Chemed Corporation ("Chemed") (NYSE: CHE) announced it has acquired five formerly independent Roto-Rooter franchises covering several areas of Northern California. This is Roto-Rooter's largest franchise acquisition to date, with annual sales of $22 million. The territories served by the franchises encompass all or parts of six counties, including Contra Costa, Santa Clara, Solano, Napa, Sonoma and San Benito, with a combined population of approximately four million people. The acquired territories include the cities of San Jose, Santa Rosa, Santa Clara, Sunnyvale, Vallejo, Concord, Fairfield and Napa. The sale was effective October 1, 2018. Terms of the transaction were not disclosed. This acquisition is part of Roto-Rooter's ongoing strategy of acquiring franchises to boost productivity, market share and profitability. Roto-Rooter was established in 1935 and is the largest provider of
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