The Associated Press September 1, 2011, 1:27PM ET

Swisher Hygiene acquires Chicago franchisee

Swisher Hygiene Inc. said Thursday that it acquired Evergreen Hygiene Co., a Swisher franchisee that does business in Chicago.

Swisher said the principals of Evergreen, Andy and Eric Neville, will join Swisher and help the company expand in the Chicago area. Evergreen was one Swisher's last franchisees. The Neville family has been involved in Swisher Hygiene since 1994.

Swisher, based in Charlotte, N.C., provides commercial cleaning equipment and supplies.

The deal is worth $840,000 in cash, and it includes a note that can be converted into about 313,000 shares of Swisher common stock. The company had 173.5 million shares as of Aug. 12.

Shares of Swisher Hygiene rose 51 cents, or 11.4 percent, to $4.97 in afternoon trading. The stock has traded between $2.28 and $11.43 in the last year.

BW Mall - Sponsored Links

Buy a link now!