InvoCare Limited (IVC) owns and operates funeral homes, cemeteries and crematoria around Australia, New Zealand and Singapore. InvoCare has 3 national funeral brands in Australia (White Lady Funerals; Simplicity Funerals; and Value Cremations) and over 33 regional funeral home brands in different states across Australia.
In late 2019, InvoCare announced its expansion in the Pet Care & Cremation market after acquiring an existing pet cremation business during 2018. It’s first Patch & Purr cremation facility opened in 1H19.
With plans to increase its presence in this fast growing marketplace, InvoCare has recently acquired two more pet cremations businesses (Family Pet Care & Pets in Peace). The cost of aquisition ~ A$49.8m, including A$11.5m of deferred consideration subject to 2 years earnings targets.
Family Pet Care (WA, SA, Victoria and Southern NSW) operates under two brands: Edenhills (Melbourne, Albury/Wodonga, Adelaide and Rowville) and Lawnswood (Perth) and conducts ~52,000 pet cremations a year.
Pets in Peace is the largest pet cremation services business in Queensland and performs ~14,000 pet cremations a year across 4 locations (SE Queensland and Toowoomba).
InvoCare, CEO Martin Earp says the purchases are a significant expansion into pet cremation services.
“We are excited to complete these transactions as they are both very high-quality businesses providing exceptional levels of customer service. Expanding the pet cremation business is a natural evolution for InvoCare providing opportunities to leverage its decades of operating in the end of life market,” he said.
“In addition, it is our belief that our deep experience in memorialisation in our core business will transfer across to the pet sector given the increasing trend towards the humanisation of the pet industry,” he added.
The “Humanisation of pets” by the public is a growing market for the funeral industry. As we look beyond 2020, the horizontal integration of pet loss services is a clever move by InvoCare and one that should be considered by independent funeral homes.
If you are an Independent Funeral Director and would like further information and advice on this topic or other business advice, call eziFunerals today.
eziFunerals supports individuals and families cope with end of life decisions, death and funerals. We are an independent, Australian-owned and operated company. We are not part of any other funeral company.
Our member Funeral Directors are chosen for their knowledge, quality, service, personalisation and experience. They go above and beyond, and will take the time to support the family.
For more information or to make contact with a trusted Independent funeral director, call eziFunerals on 1300 236 402 or visit www.ezifunerals.com.au.