The InvoCare Limited (ASX: IVC) acquisition strategy continued this week with the announcement that Australia’s largest funeral company has entered into a conditional sales agreement to acquire the business and assets of Harrison Funerals.
Harrison Funerals, which is based in Ballarat, Victoria generates revenue of around $1 million per annum and has been serving families in the region since 2005. It carries out approximately 150 funerals per year and generates revenue of around $1 million per annum. The acquisition includes a fully equipped funeral home with a chapel and mortuary, freehold properties and prepaid contracts.
Since March, InvoCare will have acquired $10.3 million of Australian-based funeral providers and NZ$12 million of New Zealand based operators. This acquisition makes it $11.3 million in Australia.
So let’s summarise InvoCare’s acquisitions of small independent and family owned funeral homes in the past year:
- English Rose with $0.7 million of revenue
- Lester & Son with $3.5 million of revenue
- Hope & Sons with NZ$5.8 million of revenue
- Whitestone with NZ$1 million of revenue
- Southern Highlands with $0.7 million of revenue
- J A Dunn with $1 million of revenue
- Archer & Sons with $2.4 million of revenue
- Grafton & District Funerals with $2 million of revenue
- And Now Harrison Funerals with $1 million of revenue.
You might not know it, but InvoCare Limited is currently listed on the Australian stock exchange and owns and operates funeral homes, cemeteries and crematoria in Australia and Singapore. It is the largest provider of funeral services and the largest operator of private cemeteries and crematoria in Australia with over 230 funeral homes trading under different brands and 12 cemeteries and crematoria nationally. So these acquisitions are in addition to most of the funeral brands you’ve heard of are owned by InvoCare such as:
- White Lady Funerals
- Simplicity Funerals
- Value Cremations
- Guardian Funerals
- Ann Wilson Funerals
- Le Pine Funerals
- Purslowe Funerals
Make the Right Choice!
Corporate or Independent and Family-Owned
Choosing between a corporate or family-owned funeral home is a personal question. Corporate funeral homes are often able to charge a premium due to brand recognition and the belief that their services will be of a higher professional quality. On the other hand, independent funeral homes work for consumers and not shareholders of publicly listed companies like, InvoCare and Propel Funeral Partners.
Independent Funeral Homes are often more connected with the communities they serve and have more freedom to tailor funerals to reflect the wishes of the family (rather than being bound by strict package options).
So make the right choice and get value for money by selecting an Australian, family owned and independent funeral home to conduct the funeral. We have some of the best funeral directors in Sydney, Melbourne, Brisbane, Perth, Adelaide and Hobart.
eziFunerals is a free consumer advocacy and funeral planning platform that supports individuals and families cope with end of life decisions, death and funerals. We are an independent, Australian-owned and operated company, and are not a subsidiary of any other corporation. We are not part of any other funeral company. Founded by consumers frustrated by how difficult it was to get independent information, eziFunerals supports consumers plan a funeral, compare prices and select the right funeral director anywhere, anytime.