Park Lawn Completes Acquisition of Shackelford
Park Lawn Corporation has finalized the acquisition of Shackelford Corporation, which includes eight funeral homes and two cemeteries in the Savannah, Tennessee area. This strategic move enhances Park Lawn’s presence in western Tennessee and strengthens its position in the southeastern U.S. market. Both parties emphasize a commitment to maintaining Shackelford's legacy of excellence and integrity. The acquisition is projected to offer operational synergies and growth potential, aligning with Park Lawn's objectives for expansion.
- Acquisition enhances Park Lawn's footprint in western Tennessee.
- Strengthens market position in the southeastern U.S.
- Potential operational synergies and growth opportunities.
- None.
TORONTO, ON / ACCESSWIRE / September 12, 2022 / Park Lawn Corporation (TSX:PLC, PLC.U) ("Park Lawn" or "PLC") has completed the previously announced acquisition of substantially all the assets of Shackelford Corporation ("Shackelford"), a group of businesses consisting of eight stand-alone funeral homes, two stand-alone cemeteries and one on-site funeral home and cemetery located in and around the Savannah, Tennessee area.
"For over 90 years, Shackelford has been a leader dedicated to excellence in not only our profession, but also the communities we serve throughout Chester, Hardeman, Hardin, McNairy and Wayne Counties. As we move into the next phase of our journey, we are excited to partner with Park Lawn who will ensure that the Shackelford vision of integrity and excellence in service is preserved," said Claire Shackelford, President of Shackelford.
J. Bradley Green, Chief Executive Officer of PLC stated, "Shackelford is a premier group of businesses, and we are honored that the Shackelford family has chosen to work together with Park Lawn to preserve their strong reputation within the communities they serve." Mr. Green continued, "Through the addition of Shackelford, Park Lawn has established a substantial footprint in western Tennessee as it continues to solidify its strength in the southeast."
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 seventeen U.S. states.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information (within the meaning of applicable securities laws) relating to the business of PLC and the environment in which it operates. Forward-looking statements in this news release 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 will perform as expected following closing, 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 purchase price multiples for future acquisitions remain 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 most recent Annual Information Form and 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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