Finance

Park Lawn acquires West Coast funeral business

Foundation Partners why I partnered

Park Lawn Corporation, with headquarters in Toronto, Ontario, and Houston, Texas, announced in a press release on October 1, that they had reached an agreement to acquire Bowers Funeral Service Ltd. of British Columbia.  You can see the press release here.

According to the press release, Bowers Funeral Service is a three location firm with locations in Salmon Arm, British Columbia; Golden, British Columbia; and Revelstoke, British Columbia.  The press release also mentions that this acquisition will “complement Park Lawn’s existing Providence Funeral Homes locations” which are also located in the region.

Again, according to the press release, additional information includes:

  1. The Bowers businesses perform approximately 390 calls per year
  2. The purchase will be funded with cash on hand
  3. The purchase price multiple is within Park Lawn Corporations publicly stated EBITDA multiple range.

Park Lawn Corporation owns and operates death care related businesses in five Canadian provinces and fifteen U.S. states.

Here is the Bowers Funeral Service website.

Additional news from Park Lawn Corporation — On September 24, Park Lawn Corporation announced their monthly dividend of CAN$ 0.038 per share.  You can read the press release for that information here.

More news from the world of Death Care:  Today we have several interesting articles for your weekend reading.  Included in that number is an article from a clergy who describes the difference between working with funerals and weddings and why, in this year of COVID, she is welcoming weddings more than ever.

We also have an article from an Australian funeral director who had first hand knowledge of the coronavirus breakout in Wuhan, China, and what he did to prepare.

And, under the title of “Better late than never” we have an article on the cremation remains that got lost in the mail!



 

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