Roto-Rooter Acquires Franchises
The franchisee is the largest in the Roto-Rooter system, as well as one of the originals. The acquisition is expected to close in the fourth quarter of 2003. The purchase price was not disclosed, but revenues from the combined operations total nearly $47 million a year.
In other news, Roto-Rooter’s board of directors announced a quarterly cash dividend of 12 cents per share on its capital stock, payable on Sept. 10, 2003, to stockholders of record on Aug. 21, 2003.