CHARLOTTE, N.C., March 14, 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 Logico Associates, Inc. ("Logico"), its San Diego, California franchisee, and Nebraska Hygiene, Inc., its Lincoln, Nebraska franchisee. Logico is one of the longest operating Swisher Hygiene franchisees, with a member of the Lougeay family having been a part of the Swisher Hygiene system since 1993. Logico's franchise territory encompasses all of San Diego and Imperial Counties, stretching from the Pacific Ocean to the Arizona border. Additionally, it is adjacent to Orange County, a market Swisher Hygiene purchased from a former franchisee in January 2011. Nebraska Hygiene, Inc. has been a part of the Swisher Hygiene system since 2003, providing its services in the Lincoln and Omaha, Nebraska markets. From these bases, Swisher Hygiene intends to introduce its full suite of product and services offerings to customers. "We are excited to bring our San Diego and Nebraska franchisees fully on board to further enhance our company-owned operations in North America and take these territories to the next level," said Steven R. Berrard, Chief Executive Officer of Swisher Hygiene. "I'd like to thank the Logico team and the Lougeay family for their loyalty to Swisher Hygiene over the last 18 years and wish Stace Lougeay much success in the next step of his career, as well as the Nebraska Hygiene team for their hard work and dedication over the last eight years." Total consideration paid for by Swisher Hygiene in connection with the acquisitions includes $250,000 in cash and the issuance of a maximum of 338,326 shares of Swisher Hygiene common stock subject to certain restrictions, including acceptance by the Toronto Stock Exchange.
Cautionary Statement on Forward-Looking InformationAll statements, other than statements of historical fact, contained in this news release, including any information as to the future financial or operating performance of Swisher Hygiene, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this news release unless otherwise stated. Forward-looking statements include, but are not limited to, possible events and statements with respect to possible events. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Swisher Hygiene as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Swisher Hygiene contained in this news release, which may prove to be incorrect, include but are not limited to, the various assumptions set forth herein as well as (1) the accuracy of management's assessment of the effects of the successful completion and integration of the acquisitions; (2) the trading price of Swisher Hygiene's common shares; and (3) there being no significant disruptions affecting Swisher Hygiene's operations, whether due to labor disruptions, supply disruptions, power disruptions, damage to equipment or otherwise. All of these assumptions have been derived from information currently available to Swisher Hygiene including information obtained by Swisher Hygiene from third-party sources. These assumptions may prove to be incorrect in whole or in part. All of the forward-looking statements made in this news release are qualified by the above cautionary statements and those made in the "Risk Factors" section of Swisher Hygiene's registration statement on Form 10 filed with the Securities and Exchange Commission, available on www.sec.gov, and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com, and Swisher Hygiene's other filings with the Securities and Exchange Commission and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Swisher Hygiene. The forward-looking information set forth in this news release is subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking information.
Swisher Hygiene disclaims any intention or obligation to update or revise any forward-looking statements, except to the extent required by applicable law.About Swisher Hygiene Inc. Swisher Hygiene Inc. is a NASDAQ and TSX listed company that provides essential hygiene and sanitation solutions to customers throughout much of North America and internationally through its global network of 75 company-owned operations, 8 franchises and 10 master licensees operating in countries across Europe and Asia. These essential solutions include cleaning and sanitizing chemicals, foodservice and laundry products, restroom hygiene programs and a full range of related products and services. The company's most recent program enhancement is its introduction of solid waste management services to commercial and residential customers in selected markets. Together, this broad set of offerings is designed to promote superior cleanliness and sanitation in all commercial environments from door to dumpster, enhancing the safety, satisfaction and well-being of employees and patrons. Swisher Hygiene's customers include a wide range of commercial enterprises, with a particular emphasis on the foodservice, hospitality, retail, industrial and healthcare industries.
CONTACT: Swisher Hygiene Inc. Investor Contact: Amy Simpson Phone: (704) 602-7116 Don Duffy, ICR Phone: (203) 682-8215 Media Contact: Alecia Pulman, ICR Phone: (203) 682-8332