Overview
Swisher Hygiene Inc. provides hygiene solutions to customers throughout North America and internationally through its network of company owned operations, franchises, and master licenses. Our solutions include products and services designed to promote superior cleanliness and sanitation in commercial environments, enhancing the safety, satisfaction, and well-being of employees and patrons. Our solutions are typically delivered on a regularly scheduled basis and involve providing our customers with:

• the sale of consumable products such as soap, paper, cleaning chemicals, detergents;
• the rental and servicing of dish machines and other equipment for the dispensing of those products;
• the rental of facility service items requiring regular maintenance and cleaning, such as floor mats, mops, and bar towels;
• manual cleaning of their facilities.

While we provide the service component of our business, we deliver products to end-customers via our own personnel as well as third-party distribution partners. We serve customers in a wide range of end-markets, with a particular emphasis on the foodservice, hospitality, retail, industrial, and healthcare industries.

Company History
We were originally founded in 1986 as Swisher International, Inc. From our founding through 2004, we operated primarily as a franchisor and licensor of restroom hygiene services offering: (i) weekly cleaning and sanitizing services of our customers' restroom fixtures, along with the restocking of soap and air freshener dispensers and (ii) the sale of restroom paper products, suchas toilet paper and hand towels. We provided these services to a customer base largely comprised of small, locally owned bars, restaurants, and retail locations. Although franchisees licensed the same business model, themanner in which they executed and adopted Swisher programs varied greatly, resulting in historically inconsistent levels of service and differing product offerings across geographic markets.

In November 2004, H. Wayne Huizenga and Steve Berrard acquired a majority interest in Swisher, which at the time was a publicly traded company. Subsequently, in May 2006, Messrs. Huizenga and Berrard acquired the remaining outstanding shares of Swisher and began operating Swisher as a private company.

The primary goal of acquiring ownership of Swisher was to transition the business to take greater advantage of the Swisher brand and nationwide service and distribution network, and to better leverage the under-utilized platform to expand both product and service offerings. Specifically we sought to transition the company's focus from generating revenue almost exclusively from restroom cleaning services to building a full-service hygiene solutions provider that offers a broad complement of products and services, addressing the complete hygiene and cleaning needs of our customers throughout their facilities. We believed that such a transition would provide Swisher with a competitive advantage, allowing us to retain existing customers over time and provide them with additional products and services that were essential to the operation of their businesses. Moreover, we sought to leverage Swisher's national infrastructure with product offerings and service expertise in core lines of products, including cleaning chemicals, required by larger corporate customers nationwide.

In the intervening years we have transformed the company by acquiring a majority of the franchisees and implementing a long-range plan to increase the number and types of products we offer. We have replaced information systems, established a fleet of company-owned vehicles, upgraded our facilities, hired experienced route-based operations managers todevelop consistency in our operating model and expanded the geographic area covered by our locations.

More importantly, In the second half of 2009, we refocused our efforts on positioning the company for future growth by:

• investing in our corporate account and distributor sales programs;
• acquiring franchises to help leverage our field cost structure and fill remaining geographic gaps in our service delivery markets; and
• accelerating the development of our chemical program to provide a comprehensive offering focused on detergents, cleaners, and sanitizers used regularly by most of our customers in their warewashing, laundry, and general cleaning applications.

We believe that our chemical program is a key component of our future growth as these products are necessary to maintain proper sanitation and cleanliness and require dispensing equipment that we sell or rent, install, and service on a regular basis to ensure proper dilution and delivery of the chemicals. In addition, the purchase of chemical products by our regional and national chain customers is directed by corporate headquarters of those chains. As a result of this and the fact that we have the ability to provide chemical services throughout the continental U.S., the majority ofour new business now comes from larger regional or corporate accounts as well as regional distributor partners.

On November 2, 2010, we completed a merger with and into CoolBrands International Inc., whereby we became a publicly traded company. CoolBrands had sold its operating business in 2007 and since that time had been looking for the right business combination whereby the shareholders of CoolBrands and the surviving company could benefit from the strength of CoolBrand's balance sheet coupled with the fact that CoolBrands was publicly traded.

Going forward, we will continue to expand our reach into additional U.S. and Canadian geographic markets through acquisitions of independent chemical distributors, execution of agreements with distributor partners, and organic growth. Additionally, we will be opportunistic as it relates to acquiring or partnering with complementary businesses that (i) can provide us a competitive advantage; (ii) leverage, expand, or benefit from our distribution network; or (iii) provide us economies of scale or cost advantages over our existing supply chain. Collectively these efforts are centered on making us an attractive alternative to larger customers in foodservice, hospitality, healthcare, retail, and industrial markets. Lastly, we will seek to aggressively license our business model internationally.