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- Park Lawn (TSX:PLC:CA) said on Tuesday that it will divest substantially all the assets of The Park Lawn Cemetery, PLC Saber, and PLC Citadel to Everstory Acquisition Portfolio for ~$70M.
- Transaction consists of $55M in cash and $15M in deferred compensation, Park Lawn added.
- According to the company, the divestiture includes 72 cemeteries in Kentucky, Michigan, North Carolina and South Carolina and 11 funeral homes in Kentucky and North Carolina.
- Everstory Acquisition Portfolio is an affiliate of Everstory Partners, a deathcare company that operates throughout the U.S. and Puerto Rico.
- Park Lawn expects to close the deal prior to year-end 2023.
- Press Release