InvoCare to acquire two Funeral Businesses

  • Nov 12, 2019 AEDT
  • Team Kalkine

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.

 

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