Roto-Rooter Buys Oakland, California, Franchise
July 01 2019 - 01:31PM
Business Wire
Roto-Rooter Services Company, a wholly owned subsidiary of
Chemed Corporation ("Chemed") (NYSE: CHE) announced it has acquired
the formerly independent Roto-Rooter franchise serving Alameda
County and portions of southwestern San Joaquin County, California.
The service area includes the cities of Oakland, Berkeley, Hayward,
Fremont, Livermore, Pleasanton and Tracy, California.
The newly acquired territory has annual sales of $11 million and
serves a population of approximately 1.7 million people. This
acquisition follows the company’s October 2018 purchase of five
neighboring Northern California franchise territories. The Oakland
franchise purchase was effective July 1, 2019. Terms of the deal
were not disclosed. This transaction is part of Roto-Rooter’s
ongoing strategy of acquiring franchises to boost productivity,
market share and profitability.
Listed on the New York Stock Exchange and headquartered in
Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates two
wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS
is the nation's largest provider of end-of-life hospice care and
Roto-Rooter is the nation’s leading provider of plumbing and drain
cleaning services.
Statements in this press release or in other Chemed
communications may relate to future events or Chemed's future
performance. Such statements are forward-looking statements and are
based on present information Chemed has related to its existing
business circumstances. Investors are cautioned that such
forward-looking statements are subject to inherent risk that actual
results may differ materially from such forward-looking statements.
Further, investors are cautioned that Chemed does not assume any
obligation to update forward-looking statements based on
unanticipated events or changed expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20190701005756/en/
David P. Williams (513) 762-6901
Chemed (NYSE:CHE)
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