Consumer Services M&A » By The Online Investor Staff, updated Thu., Apr. 18, 2:20 PM
Recent mergers and acquisitions in the Consumer Services M&A category.
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Slide #3. StoneMor Partners L.P. — Funeral Homes and Cemeteries
Acquirer:
StoneMor Partners L.P. (STON)
Acquiree:
Funeral Homes and Cemeteries
Details:
StoneMor Partners L.P. (NYSE:STON) announced today that it was the successful bidder to purchase 9 funeral homes, 12 cemeteries and 2 crematories in Central Florida, North Carolina, Southeastern Pennsylvania and Virginia from Service Corporation International (NYSE:SCI). On March 21, 2014, SCI submitted its application to the Federal Trade Commission ("FTC") to approve StoneMor's acquisition of certain of these properties. The bidding and approval process was initiated by SCI in connection with the recently completed acquisition of Stewart Enterprises, Inc. by SCI pursuant to an FTC Decision and Order.
StoneMor is a provider of funeral and cemetery products and services in the death care industry. Co. has two segments, which are classified as Cemetery Operations and Funeral Homes Operations segments. Co.'s Cemetery Operations include sales of cemetery interment rights, merchandise and services and the performance of cemetery maintenance and other services. Co.'s funeral homes provide a range of services, including family consultation, final expense insurance products, the removal and preparation of remains, provision of caskets and related funeral merchandise, the use of funeral home facilities for visitation, worship and performance of funeral services and transportation services.
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