Park Lawn Corporation entered into a definitive agreement to acquire Substantially All of the Assets of Shackelford Corporation.

Park Lawn Corporation (TSX:PLC) entered into a definitive agreement to acquire Substantially All of the Assets of Shackelford Corporation on August 3, 2022. The agreed upon purchase price multiple for the transaction is slightly greater than PLC's publicly-stated targeted Adjusted EBITDA multiple range for its historical transactions. The transaction is expected to be financed with funds from PLC's credit facility and available cash on hand.

The transaction is anticipated to close in early September 2022. The transaction is subject the receipt of regulatory approval. Jeff Dinerstein of Morgan, Lewis & Bockius LLP acted as legal advisor to Park Lawn Corporation (TSX:PLC).