Propel Funeral Partners Limited (ASX:PFP) executed binding sale agreement to acquire Glenelg Funerals on September 14, 2021. In related transactions, Propel Funeral Partners executed binding sale agreements to acquire Berry Funeral Directors and State of Grace. Propel Funeral Partners Limited will pay AUD 17.6 million combined consideration for three acquisitions of which AUD 15.2 million in cash to be paid on completion, AUD 0.2 million via the issue of 52,546 ordinary shares which will be subject to escrow arrangements for up to 3 years from completion of the relevant transaction and AUD 2.2 million which will be payable in cash if certain financial milestones are achieved during the three years following completion of the relevant transactions. The transaction will be funded from senior debt facilities with Westpac which is expanded to fund the acquisition. The transaction is subject to regulatory approval and other customary conditions and is expected to be completed by December 31, 2021.

Propel Funeral Partners Limited (ASX:PFP) completed the acquisition of Glenelg Funerals on December 1, 2021.