Propel Funeral Partners Ltd. (AU:PFP) has released an update.
Propel Funeral Partners Ltd. has announced the acquisition of four long-standing funeral service providers in Australia and New Zealand, with a total payment of approximately A$12.0 million upon completion. These acquisitions are expected to increase the company’s revenue stream, with the businesses generating around A$6.0 million in the previous financial year. Propel, which operates as the second largest death care services provider in both countries, aims to fund the acquisitions through its debt facilities and expects the deal to be earnings accretive in the first year.
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