Propel Funeral Partners Limited (ASX:PFP) executed a conditional sale agreement to acquire the business, assets and freehold property from Mason Park Funerals for AUD 5.5 million on August 18, 2022. The total purchase price payable on completion of the transaction is AUD 5.2 million, comprising: AUD 3.7 million in cash for the freehold property; and AUD 1.5 million in cash for the business. In addition, an amount of up to AUD 0.3 million in cash will be payable for the business, if certain financial milestones are achieved during the two years following completion. Propel intends to fund the cash amount payable on Completion from its debt facilities. Completion is expected to occur during Q2 FY23, following satisfaction (or waiver) of conditions such as confirmatory due diligence.

Propel Funeral Partners Limited (ASX:PFP) completed the acquisition of the business, assets and freehold property from Mason Park Funerals on November 7, 2022.