InvoCare Limited (ASX: IVC) has announced acquisition of two sales agreements to acquire business and assets of Batemans Bay & Moruya District Funerals (BBMDF) and Broulee Memorial Gardens.
- Both the businesses are located on the South Coast of New South Wales (NSW).
- BBMDF performs over approximately 400 funerals per annuum generating revenue of $3 million.
- Broulee performs approximately 380 cremations per year.
- The acquisition is expected to be completed by the end of November 2019.
By 1:21 PM AEST, IVC was trading at $13.82, up by 2.52% relative to the previous close.