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Park Lawn Corporation Further Expands Funeral Home Operations in Ontario

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Park Lawn Corporation Further Expands Funeral Home Operations in Ontario

Canada NewsWire

Deal adds two locations in the Almaguin Highlands

TORONTO, April 9, 2018 /CNW/ - Today, Park Lawn Corporation (TSX: PLC) ("PLC") announced the purchase of Opatovsky Funeral Home, a two-location business operating in Sundridge and Burk's Falls, Ontario. The purchase adds to PLC's existing funeral operations in Ontario.

"The purchase of Opatovsky Funeral Home further expands our presence in the Ontario market," stated Andrew Clark, Chairman and CEO of PLC. "The Opatovsky Funeral Home businesses are strong performing businesses that will fit well with our recently expanded portfolio of funeral homes in the District of Muskoka."

Highlights of the transaction include:

  • Opatovsky Funeral Home, which operates in Sundridge and Burk's Falls, Ontario, is operated by Dave Opatovsky;
  • Total purchase price of $2.5 million, was funded from PLC's existing credit facility;
  • The purchase price multiple is within PLC's publicly-stated targeted EBITDA multiple range.

"We believe in working with strong and professional local staff and hope to further enhance the positive and caring experience provided to the families we serve," added Mr. Clark.

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 102 businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC operates in five Canadian provinces and six US 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 the expected impact of the acquisition on PLC's business. The forward-looking statements in this news release are based on certain assumptions, and they 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 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.

SOURCE Park Lawn Corporation

View original content: http://www.newswire.ca/en/releases/archive/April2018/09/c3347.html

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