Rentokil Initial PLC 6-K, filed Sep 30, 2025
Rentokil Initial PLC (RTO)
6-K
2025-09-30
For: 2025-09-30
View Original
Added on
April 11, 2026
About this 6-K
Rentokil Initial PLC filed this 6-K on September 30, 2025.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2025
Commission File Number: 001-41524
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Rentokil Initial plc
(Registrant’s name)
___________________________________
Compass House
Manor Royal
Crawley
West Sussex RH10 9PY
United Kingdom
(Address of principal executive office)
_____________________________________
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form
40-F ☐
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1): ☐
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7): ☐
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Completion
of France Workwear business sale dated 30 September
2025
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30 September
Rentokil Initial completes sale of France Workwear business to
H.I.G. Capital
Rentokil Initial plc (the "Company") is pleased to confirm the
completion of the sale of its Workwear business in France to H.I.G.
Capital, as first announced in May 2025. The sale values the
business at an enterprise value of €410m (c.$480m), on a
cash-free and debt-free basis, including an earn-out of up to
€30m (c.$35m) based on the performance of the business in
2026.
Total net cash proceeds from the transaction are expected to total
€370m (c.$435m), subject to final earn-out outcome. Proceeds
will be allocated in-line with the balanced Rentokil Initial model,
distributed towards deleveraging of the balance sheet, organic
growth focused investment in the core business, and complementary
bolt-on M&A activity.
The transaction is a continuation in the positioning of Rentokil
Initial as a streamlined Pest Control and Hygiene & Wellbeing
business, reducing annual capital expenditure requirements and
benefitting cash conversion margin by c.100 basis points. Following
completion, the Group's revenue mix will comprise c.85% Pest
Control and c.15% Hygiene & Wellbeing.
Looking ahead, the sale enables the Company to concentrate resource
on the large, attractive long-term growth opportunities within its
core markets.
Andy Ransom, Chief Executive of Rentokil Initial plc
said:
"The
completion of the Workwear sale is of strategic significance for
us, as we execute on our ongoing strategy to focus on our market
leading, core businesses. The transaction is value accretive for
our shareholders, as we strengthen our balance sheet, streamline
capital efficiency, and improve cash generation, with a simplified
business.
"I would like to thank our France Workwear colleagues for their
commitment throughout the process, and wish all at the company well
as it moves forward with H.I.G."
Enquiries:
Investors / Analysts: Heather Wood, Rentokil
Initial, +44 7808
098793
Media: Malcolm Padley, Rentokil Initial plc, +44 7788
978199
Note: France Workwear was classified within "Discontinued
Operations" in HY25 financials and will be similarly referred to at
FY25. In FY24, France Workwear, including flat linen textile and
clean room business, generated Revenue of $324m, Adjusted
Operating Profit of $57m and had associated capital
expenditure of $93m.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Date:
30 September 2025
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RENTOKIL INITIAL PLC
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/s/
Rachel Canham
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Name:
Rachel Canham
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Title:
Group General Counsel and Company Secretary
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