Everstory Partners to acquire 72 cemeteries and 11 funeral homes from Park Lawn Corporation for $70m.

Everstory Partners, a deathcare company, agreed to acquire 72 cemeteries and 11 funeral homes from Park Lawn Corporation, a company that provides goods and services associated with the disposition and memorialization of remains in Canada and the United States, for $70m. “This transaction represents the divestiture of a portfolio of legacy businesses which, by their nature, do not fit within Park Lawn’s long-term growth strategy. The teams operating these businesses are completely aligned with our vision and mission, and they have been successful in maintaining a level of profitability consistent with the type, size and location of these businesses. Nonetheless, we determined that refining our portfolio in this manner will assist us in improving our margin mix to better align with our long-term strategy. Also, this will allow us to redeploy our capital resources to acquire businesses that offer stronger long-term profit potential. Park Lawn has identified a purchaser who can continue to support and grow these businesses outside of the pressures of the public markets,” J. Bradley Green, Park Lawn Corporation CEO.