CHARLOTTE, N.C. — Swisher Hygiene has acquired the assets and business of Savoy Linen Services, a Connecticut-based linen services company.
Started in 1924, Savoy provides linen rental and laundry services primarily to foodservice customers in the southern New England and greater metro New York City markets. Concurrent with the acquisition, Paul Vazzano, the owner of Savoy, joins Swisher Hygiene and will contribute to the continued growth of its linen services business.
“The acquisition of Savoy is a continuation of our efforts to build upon our existing presence in the linen and dust control markets and expand throughout North America,” says Steven R. Berrard, Swisher Hygiene CEO. “We will be very deliberate in making value-added acquisitions and building additional facilities in order to further expand our linen production capabilities, properly leverage our customer base and create additional cross-selling opportunities for our full-service platform.”
Total consideration paid by Swisher Hygiene included cash and a promissory note that may be converted to a maximum of 171,428 shares of Swisher Hygiene common stock.