PRESS RELEASE
Published on March 10, 2004
Exhibit 99.1 For Further Information Contact
Harry J. Cynkus (404)888-2922
FOR IMMEDIATE RELEASE
Rollins, Inc. Announces Agreement to Acquire Western Pest Services
ATLANTA, GEORGIA, March 8, 2004 - Rollins, Inc. (NYSE: ROL), a premier North
American consumer services company, today announced that it has entered into a
definitive purchase agreement to acquire, through a purchase of assets, the pest
control business and certain ancillary operations of Western Industries, Inc.
and its affiliates. The aggregate consideration will be paid in cash and is
expected to be approximately $105 - $110 million. The transaction is expected to
close in the second quarter, subject to Hart-Scott-Rodino approval, and other
conditions.
Since its founding in 1928, Western Pest Services has been a pioneer and leader
in the pest control business and today ranks as the 8th largest company in the
industry. Based in Parsippany, N.J., the Company provides pest elimination and
prevention to homes and businesses to over 130,000 customers from New York to
Virginia with additional operations in Georgia and Florida. You can learn more
about Western by visiting their Web site at www.westernpest.com.
Gary W. Rollins, President and Chief Executive Officer of Rollins, Inc., said,
"We are very excited to announce this agreement. By adding Western to our
company we will further enhance our presence in the Northeast. Western is an
exceptional company and one that is well known and recognized for quality
service among its customers. They have a wonderful group of employees and we
know they will make a meaningful contribution to our operations."
Robert A. Sameth, President of Western Pest Services, stated, "We have long
admired Rollins not only for its operations but also for the success they have
had with previous acquisitions. It was most important to us that we become part
of an organization that shares the same standards that we do in valuing its
customers and associates. Rollins exemplifies these principles, both in its
commitment to excellent service to its customers and in the positive environment
it provides for its employees. We believe this transaction will provide a
successful relationship between our companies and are happy to be part of their
team."
About Rollins
Rollins, Inc. is one of the nation's largest consumer services companies.
Through its wholly owned subsidiary, Orkin, Inc., the Company provides essential
pest control services and protection against termite damage, rodents and insects
to approximately 1.6 million customers in the United States, Canada and Mexico
from over 400 locations. You can learn more about Orkin by visiting our Web
sites at www.orkin.com and www.rollins.com.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
The above release contains statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements include statements regarding the timing, nature and
expected benefits of the proposed transaction. Actual results could differ
materially from those indicated due to the following and other risks: There can
be no guarantee that all conditions to closing will be satisfied and the
anticipated timing of the transaction is subject to delay, including delay due
to regulatory and other considerations; the benefits of the transaction may not
be achieved for any of a number of reasons, including integration issues,
competition in the market and general economic factors.