Carriage Services Announces the Acquisition of Greenlawn Funeral Homes, Cemeteries and Cremations and Wood Family Funeral Service
March 22 2023 - 4:06PM
Carriage Services, Inc. (NYSE: CSV) Carriage
Services, Inc. ("Carriage" or "Carriage Services") is pleased to
announce that it has acquired substantially all the assets of
Greenlawn Funeral Homes, Cemeteries and Cremations and Wood Family
Funeral Service (collectively "Greenlawn"), consisting of three
funeral homes, two cemeteries, and a cremation focused business,
located in the Bakersfield, California market.
Jim La Mar, President and Chief Executive
Officer for Greenlawn stated, “Having worked for Greenlawn since
1990, it is truly more than a business, it is my identity. As the
face of our company, I could never envision placing Greenlawn’s
future and wellbeing in anyone’s hands other than my own. Knowing
we needed to create a succession plan so that our community and
staff could be well taken care of, I didn’t know where to turn. A
referral from a dear friend in the industry put me in touch with
Carriage. Today, as we are closing on this transaction, I can truly
say it was the best move we could have made. Carriage’s business
model is in perfect alignment with my beliefs regarding how a
business should conduct itself within this profession.
Carriage has been extremely professional and
helpful throughout this process in helping us get across the finish
line in a timely manner, with as little stress as possible. I’d
strongly recommend Carriage as part of any Company’s succession
plan.”
Steve Metzger, Executive Vice President and
Chief Administrative Officer for Carriage Services stated,
"Greenlawn is a special business with an important legacy and deep
ties within the Bakersfield community. We are honored that Jim La
Mar, Tom Bell, and the Greenlawn Board selected Carriage to carry
the Greenlawn tradition forward. We look forward to supporting the
Greenlawn team and building upon the strong foundation already in
place.
The addition of Greenlawn, which serves
thousands of families each year and is the preeminent funeral home
and cemetery business in Bakersfield, with a nearly 40% market
share, aligns well with our focus on partnering with the highest
quality independent funeral and cemetery businesses in large and
growing markets."
About Carriage ServicesCarriage
Services is a leading provider of funeral and cemetery services and
merchandise in the United States. Carriage operates 173 funeral
homes in 26 states and 32 cemeteries in 11 states. For more
information, please contact us at
investorrelations@carriageservices.com.
Cautionary Statement
Certain statements made herein or elsewhere by,
or on behalf of, Carriage (the "Company") that are not historical
facts are intended to be forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These statements are based on assumptions that the Company believes
are reasonable; however, many important factors, as discussed under
"Forward-Looking Statements and Cautionary Statements" in the
Company's Annual Report on Form 10-K for the year ended December
31, 2022, could cause the Company's results in the future to differ
materially from the forward-looking statements made herein and in
any other documents or oral presentations made by, or on behalf of,
the Company. The Company assumes no obligation to update or
publicly release any revisions to forward-looking statements made
herein or any other forward-looking statements made by, or on
behalf of, the Company. A copy of the Company's Annual Report on
Form 10-K, the Company's Quarterly Reports on Form 10-Q, and other
information about the Company and news releases, are available at
http://www.carriageservices.com.
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