Park Lawn Completes Acquisition of Speaks
Park Lawn Corporation has completed the acquisition of the Speaks funeral homes and cemetery in Missouri, expanding its presence in the Kansas City metropolitan area. The acquisition includes three funeral homes and one cemetery, enhancing Park Lawn's operational footprint. Former owner Brad Speaks expressed confidence that this partnership will elevate service excellence, aligning with Park Lawn's core mission. CEO J. Bradley Green stated that these established businesses have a strong leadership team, emphasizing the high-quality service they aim to provide. Park Lawn operates in Canada and 20 U.S. states, offering various services related to funeral and memorialization.
- Acquisition of three funeral homes and one cemetery boosts Park Lawn's market presence in Kansas City.
- Speaks business is nationally recognized, suggesting stable revenue potential.
- Strong leadership team from Speaks may lead to enhanced service offerings.
- No specific financial details regarding the acquisition price or terms were disclosed.
- Dependence on successful integration and retention of key personnel post-acquisition.
TORONTO, ON / ACCESSWIRE / April 10, 2023 / Park Lawn Corporation (TSX:PLC)(TSX:PLC.U) ("Park Lawn" or "PLC") is pleased to announce that it has completed the previously announced acquisition of substantially all of the assets of Carson-Speaks Chapel in Independence, Missouri; Speaks Buckner Chapel in Buckner, Missouri; Speaks Suburban Chapel in Independence, Missouri; and Oak Ridge Memory Gardens in Independence, Missouri (collectively "Speaks"). The Speaks acquisition expands Park Lawn's footprint in the Kansas City metropolitan market through the addition of three (3) stand-alone funeral homes and one (1) stand-alone cemetery.
"After almost ninety years of leadership by the Speaks family, we are confident that partnering with Park Lawn will help take our organization to the next level of funeral service excellence. We are excited about this opportunity and believe that it will further enhance our offerings to the families in our community as Park Lawn mirrors our core mission and values," said Brad Speaks, former owner of Speaks.
"We are pleased to further deepen our presence in the Kansas City metropolitan market with the addition of the Speaks businesses," said J. Bradley Green, Chief Executive Officer of PLC. Mr. Green continued, "These nationally recognized businesses are led by a robust leadership team which exemplify the high level of service present in first rate funeral and cemetery operations. We are honored to welcome the Speaks businesses and their teams into the Park Lawn family."
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 twenty 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 deepening its presence in the Kansas City metropolitan market. 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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