InvoCare Limited (ASX: IVC) is pleased to announce that it has entered into an unconditional sales agreement to acquire the business and assets of English Rose Funerals (“English Rose”) based at Old Noarlunga in Adelaide, South Australia, with a planned completion date of mid July 2018. English Rose is the sixth acquisition InvoCare has announced this calendar year.
English Rose operates from a single location and provides circa 140 funeral services per annum and generates revenue of approximately $0.7 million. The assets purchased include the freehold property which comprises a funeral home with a small chapel, catering area and arrangement rooms.
English Rose is highly regarded in the region for delivering traditional style funerals across the broader Adelaide market with a focus on personalised service. The current owners, Graham and Robyn Rosemane, will remain with the business and with more than 30 years of combined experience will continue the tradition they have built up since establishing English Rose.
Martin Earp, InvoCare’s Chief Executive Officer and Managing Director said: “English Rose Funerals provides a unique brand proposition that augments our existing businesses in Adelaide (White Lady, Blackwell and Simplicity). We are pleased to welcome the English Rose team to InvoCare and are excited about the opportunity to leverage our shared services network in Adelaide to help support and grow a high quality business. Together, we are confident we are well positioned to build on the success of English Rose Funerals.”
The Rosemanes from English Rose Funerals said: “We are proud of the service offering we have established with English Rose Funerals and after several years of growth were looking for the right opportunity to take the business to the next level without losing focus on our families. We are excited about joining the InvoCare team and will ensure we maintain our traditional values and personalised offering throughout the Adelaide market.”
InvoCare, headquartered in Sydney, is the largest provider of funeral services in Australia, New Zealand and Singapore. It is also the largest operator of private cemeteries and crematoria in Australia. InvoCare operates in excess of 250 funeral homes and 16 memorial parks.
InvoCare intends to fund the transactions from its existing financing facilities.
For immediate release. For more details, contact Fergus Kelly on (02) 9978 5290, 0412 922 029 or firstname.lastname@example.org