Park Lawn Corporation adds Mississippi operation with 20+ locations

 

In an announcement released yesterday, March 2, Park Lawn Corporation announced the acquisition of “substantially all of the assets of South Mississippi Funeral Services, LLC, comprised of a group of businesses located in southern Mississippi”.

 

The press release, which you can read here, goes on to make this statement, “The South Mississippi Funeral Services acquisition significantly expands Park Lawn’s footprint in the Mississippi market through the addition of twenty (20) stand-alone funeral homes and two (2) combination funeral home and cemetery properties”.

 

Jennifer W. Hay, CEO of Park Lawn Corporation, issued the following remarks on the acquisitions through a prepared statement in the press release, “We are thrilled to expand our footprint in the State of Mississippi through the acquisition of these impressive businesses, all in furtherance of our strategic growth plan.  The South Mississippi Funeral Services businesses have excellent reputations within their communities, and we are extremely honored to welcome each of these businesses and their outstanding staff into the Park Lawn family.”

 

Funeral Director Daily take:  According to the Park Lawn Corporation website and its “business map”, which you can see here, prior to this acquisition Park Lawn Corporation operated 193 funeral homes, of which 19 were in the State of Mississippi.  If I have the numbers correct, this will double the company’s operations in the State of Mississippi and the 20 stand-alone funeral homes being acquired becomes a 10% addition to Park Lawn’s current North American funeral home numbers (193).

 

Any way you would look at the transaction, it is a large size transaction. . . . . and indicative of what I believe will be coming as the large funeral home acquisition companies continue to get larger with “scale” purchases.

 

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