Waco-based home services company Neighborly has acquired California-based Junk King, the company announced today.
According to the release, the junk removal and hauling company operates more than 150 locally owned franchises across 32 states and Canada. “At Neighborly, we want to be the mainstream home services a homeowner typically needs on a reoccurring basis,” “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.”from COO of Junk King to brand president.
“I never would have dreamed that we could grow Junk King into what it has become in the market today,”, co-founder of Junk King, said in a news release. “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.
Junk King was founded in 2005 and began franchising in 2010. The company said it works to keep 60% of its collected materials out of landfills through repurposing and recycling.