- Park Lawn Corporation (PLC) has announced the acquisition of Family Legacy and Harpeth Hills
- The Nashville-based companies will contribute to Park Lawn’s strategic expansion in the US
- The two companies are expected to generate C$26.7 million in first-year revenue
- Park Lawn shares are up 0.17 per cent to C$30.29, with a market cap of C$873.68 million
Park Lawn Corporation (PLC) has announced the acquisition of Family Legacy and Harpeth Hills.
The acquisition of Family Legacy – a business with 12 locations in the greater Nashville area – excludes one stand-alone funeral home, for which the purchase price has been proportionally reduced.
“We are excited to welcome the Family Legacy and Harpeth Hills businesses into the Park Lawn family,” said Andrew Clark, Chairman and CEO of Park Lawn Corporation.
“The completion of these acquisitions provides Park Lawn with the unique opportunity to enter the middle Tennessee market as the premier provider of funeral and cemetery services in the area.”
Park Lawn expects that the acquisition of the two companies will generate a combined revenue of approximately C$26.7 million in their first year of operation.
In September 2019, Park Lawn was recognised as an inaugural member of the Toronto Stock Exchange’s TSX30 – a listing created to celebrate the 30 best performing stocks on the TSX based on dividend-adjusted share price appreciation.
Mr. Clark said at the time: “As we continue our growth both organically and through acquisition, we will remain focused on enhancing our product and service offerings, in addition to providing industry-leading service to families at their time of need.”
Acquisitions are one of three core pillars in Park Lawn’s business plan.
The company’s shares are up 0.17 per cent to C$30.29, with a market cap of C$873.68 million.