Park Lawn Completes Jacoby Acquisition
TORONTO, ON / ACCESSWIRE / December 12, 2022 / Park Lawn Corporation (TSX:PLC, PLC.U) ("PLC" or "Park Lawn") has completed the previously announced acquisition of substantially all the assets of Schrader, Aragon & Jacoby Funeral Home, Mountain View Memorial Park and Bustard & Jacoby Funerals, Cremation, Monuments and Receptions (collectively "Jacoby"), a group of businesses consisting of two stand-alone funeral homes and one stand-alone cemetery located in Cheyenne and Casper, Wyoming.
"For almost 100 years, our businesses have had the privilege of serving and supporting the families of the Cheyenne and Casper communities through all aspects of funeral service and bereavement care. We are excited to partner with Park Lawn to continue our distinct level of service as the largest funeral and cremation provider in Wyoming," stated Jeffrey Jacoby, a former co-owner of Jacoby.
"The addition of the Jacoby businesses solidifies Park Lawn's continuing commitment to its growth strategy in partnering with premier operators," said J. Bradley Green, Chief Executive Officer of PLC. Mr. Green continued, "We are excited to welcome the Jacoby teams to Park Lawn."
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 eighteen 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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