Park Lawn Completes Acquisition of Muehlebach
Park Lawn Corporation has successfully completed the acquisition of Muehlebach Funeral Care and two other facilities in Kansas City, enhancing its presence in the region. This acquisition includes three stand-alone funeral homes, which aligns with Park Lawn's strategic goals of expanding operations and delivering personalized services. The former owner, Steve Pierce, will lead the Kansas City market, aiming to maintain the company’s commitment to dignified services. Park Lawn continues to grow its footprint across the U.S. and Canada, providing planned and at-need memorialization services.
- Acquisition of three funeral homes enhances market presence in Kansas City.
- Expected operational synergies from the integration of Muehlebach.
- Leadership continuity with Steve Pierce taking a key role post-acquisition.
- None.
TORONTO, ON / ACCESSWIRE / November 15, 2022 / 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 Muehlebach Funeral Care in Kansas City, Missouri, Skradski-Pierce Funeral Home in Kansas City, Kansas and Assurance Cremation Society in Kansas City, Missouri (collectively "Muehlebach"). The Muehlebach acquisition expands Park Lawn's footprint in the Kansas City metropolitan market through the addition of three stand-alone funeral homes.
"We have been serving the greater Kansas City communities for many decades and are excited that our partnership with Park Lawn will allow us to continue to provide personalized service to our families. I am also honored to assume a leadership role in the Kansas City market and look forward to leading Park Lawn's commitment to compassionate and dignified service," said Steve Pierce, former owner of Muehlebach.
"With the addition of the Muehlebach businesses, Park Lawn has added a premier group which not only embodies the culture and values of Park Lawn, but also strengthens our presence in the Kansas City market," said J. Bradley Green, Chief Executive Officer. Mr. Green continued, "We are honored to welcome Steve and the Muehlebach teams to 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 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 expectation the acquisition will provide operational synergies for existing businesses in the 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
View source version on accesswire.com:
https://www.accesswire.com/725743/Park-Lawn-Completes-Acquisition-of-Muehlebach
FAQ
What acquisition did Park Lawn Corporation announce on November 15, 2022?
How will the Muehlebach acquisition impact Park Lawn Corporation's operations?
Who will lead the Kansas City market after the Muehlebach acquisition?
What are the potential benefits of the Muehlebach acquisition for Park Lawn Corporation?
