The largest home services provider in the globe, Neighborly®, recently announced that it had acquired Junk King®, the best junk hauling and removal business in the country. More than 150 locally owned franchisees for Junk King exist in 32 states as well as Canada (under the name Junk Works®). Through this purchase, Neighborly expands into a brand-new service industry and solidifies its position as the Hub for Home ServicesTM.
“At Neighborly, we want to be the mainstream home services a homeowner typically needs on a reoccurring basis,” said Mike Bidwell, President and CEO of Neighborly. “We saw Junk King as another excellent opportunity to expand into a new service vertical with a brand that has a strong reoccurring business model and potential for growth. Junk King is one of a handful of scaled franchised companies operating in the $10 billion junk removal market today.”
In 2005, co-founder Michael Andreacchi launched the business from his San Carlos, California, garage, and in 2010, he started franchising it. The customer-focused company today takes pride in its unmatched customer service and strives to keep 60% of the items it gathers out of landfills by recycling and reusing as much as it can. Additionally, Junk King’s extra-large vehicles, which are 20% larger than those of its rivals, help to lessen its carbon impact while still giving clients a discount.
“I never would have dreamed that we could grow Junk King into what it has become in the market today,” said Andreacchi. “This is due to the hard work and perseverance of our leadership team and employees, and further reinforced by our franchise owners, who believed in our vision and propelled the brand through their entrepreneurial drive. Now, with the opportunity for Junk King to join the largest home services company in the world, there’s no limit to how large this brand can become, and I’m certain this is the right step for the future.”
Lisa Merry, Junk King’s chief operating officer, has been promoted to brand president. With various former leadership positions at Huntington Learning Centers, Coverall Health-Based Cleaning, and School of Rock, Merry has vast experience in franchising. Andreacchi will remain connected as an investor and Brand Ambassador for Junk King.
Boxwood Partners served as the exclusive sell-side advisor to Junk King for the transaction.
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