Foundation Partners, based in Orlando, Florida recently announced that they had made an acquisition to their family of brands. They announced that they had acquired Legacy Funeral & Cremation Care in San Diego County, California. You can read a press release here.
The purchase from the Savino family represents an opening into the San Diego market for Foundation Partners.
Legacy appears to be a low cost provider of cremation services with their web-site listing Direct Cremation beginning at $895 and Cremation with a Memorial Service starting at $1295. From our point of view, this acquisition seems to fit right in with what we believe is Foundation Partners strategic viewpoint with acquisitions. According to the Foundation Partners web-site they now serve 17 states and are actively seeking to expand locations throughout the United States.
InvoCare Limited, based in Australia has continued rolling the acquisition train with the purchase of Harrison Funerals located in Ballarat, Victoria. The acquisition continues InvoCare’s strategy of solidifying positions in regional areas of Australia and New Zealand.
You can read about this purchase here.
From our point of view there seems to be a real race down under between InvoCare and Propel Funeral Partners to be acquiring strategic markets.