Park Lawn Corporation Expands Presence in Colorado with the Acquisition of Crippin

Park Lawn Corporation (TSX: PLC) has announced the acquisition of the assets of Crippin Funeral Home, Gunnison Funeral Services, and Grand View Cemetery in Colorado. This move is part of Park Lawn's expansion into the Colorado market with two funeral homes and a cemetery.

The former owners of Crippin, Kelly and Gregory Crippin, expressed pride in their 37 years of service to the Montrose community and are optimistic about the future under Park Lawn's leadership. J. Bradley Green, CEO of Park Lawn, stated that this acquisition represents a significant addition to their portfolio in Colorado.

The acquisition is expected to generate approximately 576 calls per year, around 85 interments per year, and will be funded through Park Lawn's existing resources. It is also projected to add approximately $703,404 USD in annual adjusted EBITDA. For the year ending December 31, 2022, Park Lawn reported adjusted EBITDA of $74,948,868 USD and net income of $25,124,765 USD.

PLC, the largest publicly traded Canadian-owned funeral and cemetery company, is continuing its expansion in Canada and the United States, spanning three Canadian provinces and seventeen American states.