PLC - Park Lawn Completes Divestiture of Certain Legacy Assets

TORONTO, ON / ACCESSWIRE / December 20, 2023 / Park Lawn Corporation (TSX:PLC)(TSX:PLC.U) ("Park Lawn" or "PLC"), today announced that it has successfully completed the previously announced divestiture of certain legacy assets including all the assets of The Park Lawn Cemetery Company (USA), Inc., PLC Saber Ltd. and PLC Citadel Ltd. to Everstory Acquisition Portfolio, LLC ("EAP"), an affiliate of Everstory Partners ("Everstory Partners"). The divestiture includes 72 cemeteries in Kentucky, Michigan, North Carolina and South Carolina and 11 funeral homes in Kentucky and North Carolina.

"The completion of this divestiture marks an important milestone in the execution of Park Lawn's long-term strategy," said J. Bradley Green, Chief Executive Officer. Mr. Green further stated, "Park Lawn has now refined its portfolio and, moving forward, is well positioned to focus solely on its core business strategy while also improving our leverage and liquidity position. We thank each of the employees of these 83 businesses for their hard work and dedication to Park Lawn and wish them well under their new ownership."

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 businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC operates in three Canadian provinces and seventeen U.S. states.

Contact Information

Daniel Millett
Chief Financial Officer
(416) 231-1462, ext. 221

SOURCE: Park Lawn Corporation