Park Lawn Corporation Completes Acquisition of Ingram Business

Rhea-AI Summary

Park Lawn Corporation (TSX:PLC) has successfully completed the acquisition of Ingram Funeral Home & Crematory, a stand-alone operation in Cumming, Georgia. This strategic move aims to bolster PLC's presence in one of the fastest-growing states in the U.S. CEO J. Bradley Green emphasized the potential for market expansion and operational synergies. The acquisition aligns with PLC's goal to enhance service offerings and drive growth, leveraging Ingram's established reputation in the community.

Positive

• Acquisition of Ingram Funeral Home enhances market presence in Georgia, a rapidly growing state.
• Potential for operational synergies and increased service offerings post-acquisition.
• Strong community reputation of Ingram may strengthen PLC's brand and customer base.

Negative

• None.

TORONTO, ON / ACCESSWIRE / December 13, 2021 / Park Lawn Corporation (TSX:PLC) ("PLC") is pleased to announce that it has completed the previously announced acquisition of substantially all of the assets of Ingram Funeral Home & Crematory, Inc. (the "Ingram" business), a stand-alone funeral home located in Cumming, Forsyth County, Georgia.

"We are happy to join an organization that prides itself in providing premier and innovative services to its families and communities as much as the Ingram team," said Jack Allen, owner of Ingram.

"Jack and his team are a tremendous addition to PLC and we look forward to working together. We are also eager to explore future opportunities for growth to complement Ingram as Georgia remains one of the fastest growing states in the country," stated J. Bradley Green, CEO of PLC.

About Park Lawn Corporation:

PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC operates in three Canadian provinces and sixteen U.S. states.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of PLC and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate", "pro-forma" and other similar expressions. These statements are based on PLC's expectations, estimates, forecasts and projections and include, without limitation, statements regarding PLC's intentions to pursue its stated growth objectives. The forward-looking statements in this news release are based on certain assumptions, including that the acquisition performs as expected following the closing and integration, Georgia is a high-growth market, PLC will be able to implement business improvements and achieve cost savings, PLC will be able to retain key personnel, there will be no unexpected expenses occurring as a result of the acquisition, the multiple remains at or below levels paid by PLC for previously announced acquisitions, the acquisition and financing markets remain accessible, capital can be obtained at reasonable costs and PLC's current business lines operate and obtain synergies as expected, as well as those regarding present and future business strategies, organic growth initiatives, the environment in which PLC will operate in the future, expected revenues, expansion plans and PLC's ability to achieve its goals. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading "Risk Factors" in PLC's Annual Information Form and most recent Management's Discussion and Analysis available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, PLC assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information

Daniel Millett
Chief Financial Officer
(416) 231-1462, ext. 221

SOURCE: Park Lawn Corporation

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FAQ

What is the significance of Park Lawn Corporation's acquisition of Ingram Funeral Home?

The acquisition enhances Park Lawn Corporation's market presence in Georgia and allows for potential operational synergies.

When was the acquisition of Ingram Funeral Home completed?

Park Lawn Corporation completed the acquisition of Ingram Funeral Home on December 13, 2021.

How does the acquisition impact Park Lawn Corporation's growth strategy?

The acquisition aligns with Park Lawn Corporation's growth strategy by expanding its operations in a high-growth market and improving service offerings.

What are the future prospects for Park Lawn Corporation after acquiring Ingram Funeral Home?

Park Lawn Corporation anticipates exploring future growth opportunities and leveraging Ingram's established reputation to enhance its services in the region.