MARYSVILLE, Ohio – The Scotts Miracle-Gro Company announced that its subsidiary Scotts LawnService is acquiring the assets of Action Pest Control, Inc., one of the largest residential pest control providers in the Midwest.
The transaction, which is expected to close by January 2015, would mark the company’s first acquisition of a home pest control business. For more than a year, Scotts LawnService has been operating a pest business in Florida using the Company’s Ortho brand. The effort has provided a successful proving ground for a business model that offers consumers the benefit of a lawn and pest service from the same provider.
Scotts LawnService, with anticipated sales of approximately $260 million in fiscal 2014, is currently the No. 2 player in lawn service. Given the fragmented nature of the $7 billion home pest control category, the Company believes it can complement organic growth in lawn service by consistently expanding its pest control platform.
Action Pest provides a comprehensive range of residential and commercial pest control services to homeowners and businesses throughout Indiana, Kentucky and Illinois. The company expects the Action Pest business to add annual sales approaching $15 million and for the transaction to be earnings accretive in fiscal 2015.