Propel Funeral Partners (ASX: $PFP) Acquisitions Announcement

Propel Funeral Partners Limited (ASX: $PFP) has executed binding legal documentation to acquire four long established businesses operating in the funeral industry and related assets, infrastructure, and real estate. The acquisitions will expand and broaden Propel's network in Australia and in New Zealand. The total consideration payable on completion of the acquisitions is approximately A$12.0 million.

Executive Commentary on Acquisitions

We are pleased to announce the acquisition of Brunswick Valley Funerals, Gladstone Valley Funerals, Osbornes Funeral Directors, and Decra. These acquisitions will significantly expand our presence in the funeral industry in Australia and New Zealand. The businesses generated approximately A$6.0 million of revenue in their last financial year and conducted around 350 funerals. We expect these acquisitions to be completed during Q4 FY24 and Q1 FY25, and to be earnings accretive in year one. The cash required to complete the acquisitions will be funded from the Company's debt facilities, and our estimated available funding capacity is expected to be approximately A$155 million after the acquisitions.

Summary of Propel Funeral Partners (ASX: $PFP) Acquisitions

Propel Funeral Partners Limited (ASX: $PFP) has executed binding legal documentation to acquire four long established businesses in the funeral industry and related assets, infrastructure, and real estate, expanding its network in Australia and New Zealand. The total consideration payable on completion of the acquisitions is approximately A$12.0 million. The acquisitions are expected to be completed during Q4 FY24 and Q1 FY25, and to be earnings accretive in year one. The cash required for the acquisitions will be funded from the Company's debt facilities, and the estimated available funding capacity is expected to be approximately A$155 million after the acquisitions. These acquisitions mark a strategic expansion for Propel Funeral Partners, further solidifying its position as a leading provider of death care services in Australia and New Zealand.