Park Lawn Completes Acquisition of Chancellor Business

Rhea-AI Summary

Park Lawn Corporation has announced the successful acquisition of Chancellor Funeral Home and Garden of Memories, enhancing its footprint in Mississippi. This acquisition includes a stand-alone funeral home and a combination funeral home and cemetery property in Byram and Florence. Bill Chancellor, former owner, expressed enthusiasm about joining Park Lawn, which aims to improve client service. CEO J. Bradley Green emphasized shared values and commitment to the local community, marking a strategic growth move for Park Lawn's operations across the U.S. and Canada.

Positive

• Acquisition expands Park Lawn's presence in Mississippi.
• Enhances service offerings with existing Chancellor staff and management.
• Strategic growth aligns with Park Lawn's vision and values.

Negative

• None.

TORONTO, ON / ACCESSWIRE / April 18, 2022 / Park Lawn Corporation (TSX:PLC, PLC.U) ("PLC") is pleased to announce that it has completed the previously announced acquisition of substantially all of the assets of Chancellor Funeral Home and Garden of Memories (collectively "Chancellor"), a business consisting of one stand-alone funeral home and one combination funeral home and cemetery property located in Byram and Florence, Mississippi, respectively.

"We are excited to begin a new chapter with Park Lawn where we have joined an organization that supports our vision to remain a leader in our profession as well as a team dedicated to caring and providing excellent client service," stated Bill Chancellor, former owner of Chancellor.

"Bill, Sandra and the Chancellor staff exemplify the mission and values of Park Lawn and we are honored to work together to serve the Byram and Florence communities moving forward," said J. Bradley Green, Chief Executive Officer 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 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 multiples 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 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

View source version on accesswire.com:
https://www.accesswire.com/697602/Park-Lawn-Completes-Acquisition-of-Chancellor-Business

FAQ

What is the recent acquisition by Park Lawn Corporation?

Park Lawn Corporation recently acquired Chancellor Funeral Home and Garden of Memories, which includes a stand-alone funeral home and a funeral home and cemetery in Byram and Florence, Mississippi.

What are the strategic benefits of the Chancellor acquisition for Park Lawn?

The acquisition allows Park Lawn to expand its market presence in Mississippi and integrate Chancellor's experienced staff to enhance client services.

What can investors expect from Park Lawn Corporation after this acquisition?

Investors can expect potential growth in revenue and improved operational efficiencies as Park Lawn integrates Chancellor's assets and personnel.

When was the acquisition of Chancellor Funeral Home completed?

The acquisition of Chancellor Funeral Home was completed on April 18, 2022.