Park Lawn Completes Acquisition of Hudson Business
Park Lawn Corporation has completed its acquisition of substantially all assets from Hudson Funeral Home in Durham, North Carolina. This acquisition enhances Park Lawn's presence in North Carolina, positioning it in a high-growth market. The former owners, Tommy and Mary Hudson, expressed confidence in Park Lawn's commitment to excellence in service. Park Lawn operates across three Canadian provinces and sixteen U.S. states, providing various memorialization services.
- Acquisition enhances presence in North Carolina's high-growth market.
- Former owners' commitment to excellence aligns with Park Lawn's values.
- Integration challenges may arise from the acquisition.
- Future performance dependent on retaining key personnel and managing unexpected expenses.
TORONTO, ON / ACCESSWIRE / June 6, 2022 / Park Lawn Corporation (TSX:PLC, PLC.U) ("PLC" or "Park Lawn") is pleased to announce that it has completed the previously announced acquisition of substantially all the assets of Hudson Funeral Home & Cremation Services ("Hudson"), a business consisting of one stand-alone funeral home located in Durham, North Carolina.
"For over 100 years, our family has remained deeply rooted in the traditions of the families we serve in the greater Durham area and surrounding communities. We are excited to join an organization that aligns with our values and prioritizes the service of families above all else," stated Tommy and Mary Hudson, former owners of Hudson.
"The addition of Hudson compliments Park Lawn's existing North Carolina businesses and allows us to enter a new high growth market in the region. We are honored that Tommy and Mary Hudson and their staff have chosen to partner with us in continuing their commitment to excellence and compassionate service," 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
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