Swisher Hygiene acquires Lasfam's hygiene and chemicals business

Swisher Hygiene Inc. ("Swisher Hygiene") (TSX:SWI), a leading full-service hygiene solutions provider, today announced that it has acquired the hygiene and chemicals business operated by Lasfam Investments Inc. ("Lasfam"), its Vancouver, British Columbia franchisee.

Lasfam operates a restroom hygiene business under the trade name of "Sani-Service", providing its customers top-shelf regularly scheduled service designed to improve the cleanliness and appearance of their facilities. The company, founded in 1995 by Elliot Laskin, and a franchisee since, details porcelain and chrome fixtures, applies germicide retardant surfaces and supplies paper, soap and air-fresheners on an on-demand basis in order to help customers reduce the amount of inventory they need to carry and ensuring that dispensers are properly maintained. Recently, the company has expanded into the chemicals business, where it has identified an opportunity to add new products through its distribution channels.

"I am very happy to be moving on to new challenges and am pleased to be leaving the business in Swisher's hands," said Mr. Laskin.

"We continue to execute on our business plan and the acquisition of our Vancouver franchisee's business is an integral part of expanding our presence in Canada and North America," added Steve Berrard, Chief Executive Officer of Swisher Hygiene. "This builds on our previously announced acquisitions of three franchisees of Swisher Hygiene located in Toronto, Calgary and Edmonton, each of which operate under the Sani-Service brand."

Total consideration paid for by Swisher in connection with the acquisition includes $1,680,000 in cash, the assumption of certain liabilities and the issuance of a convertible promissory note which may be converted into a maximum of 1,027,122 shares of Swisher Hygiene common stock subject to certain restrictions, including acceptance by the Toronto Stock Exchange.