Bullboard - Stock Discussion Forum Park Lawn Corp T.PLC

Consumer Cyclical Personal Services

Park Lawn Corporation is engaged in providing goods and services associated with the disposition and memorialization of human remains. The Company and its subsidiaries own and operate businesses, including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. Its primary products and services are cemetery lots, crypts, niches, monuments, caskets, urns and... see more

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Park Lawn Corp > Acquires Malcolm, Deavitt & Binhammer Funeral Home Limited

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Post by Betteryear2 on Oct 01, 2021 8:57am

Acquires Malcolm, Deavitt & Binhammer Funeral Home Limited

Acquisition expands Park Lawn's footprint in Ontario

TORONTO, Oct. 1, 2021 /CNW/ - Park Lawn Corporation (TSX: PLC) ("PLC" or "Park Lawn") is pleased to announce that it has acquired the assets of Malcolm, Deavitt & Binhammer Funeral Home Limited ("MDB"), a funeral home business in Pembroke, Ontario.

"This is an excellent opportunity for Park Lawn to expand its footprint in Ontario as we continue on the path to meet our stated growth objectives. The MDB funeral home will complement Park Lawn's existing locations near Ottawa. We are excited to welcome the MDB business to the Park Lawn family," stated J. Bradley Green, Chief Executive Officer of PLC.

Highlights of the transaction include:

PLC deepening its presence in Ontario by adding one standalone funeral home in Pembroke, Ontario;
MDB performs approximately 153 calls per year;
The purchase of MDB was funded from cash on hand; and
The agreed upon purchase price multiple is within PLC's publicly-stated targeted EBITDA multiple range for transactions of this nature.

https://www.newswire.ca/news-releases/park-lawn-corporation-acquires-malcolm-deavitt-amp-binhammer-funeral-home-limited-868548283.html

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