StoneMor Partners L.P. Announces Acquisition of Cemetery and Funeral Homes
Article originally appeared on Nasdaq
LEVITTOWN, Pa., Aug. 07, 2015 (GLOBE NEWSWIRE) — StoneMor Partners L.P. (NYSE:STON) (“StoneMor”) today announced the acquisition of one Illinois-based cemetery and three funeral homes as well as one Florida-based funeral home. The funeral homes combined perform approximately 545 funeral services per year and the cemetery performs approximately 400 interments per year. The aggregate purchase price for the combined properties was $6.6 million.
Larry Miller, StoneMor’s President and CEO commented, “These latest acquisitions are consistent with our strategy to continue to acquire quality properties as they become available. The properties also enhance our already strong presence in both the Illinois and Florida markets.
“These transactions bring our total property count to 304 cemeteries and 102 funeral homes in 28 states and Puerto Rico. Since becoming a public company in 2004, we have acquired 172 cemeteries and 95 funeral homes as we seek to enhance our current position as the second largest owner and operator of cemeteries and funeral homes in the nation.”
About StoneMor Partners L.P.
StoneMor Partners L.P., headquartered in Levittown, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 304 cemeteries and 102 funeral homes in 28 states and Puerto Rico. StoneMor is the only publicly traded death care company structured as a partnership. StoneMor’s cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. For additional information about StoneMor Partners L.P., please visit StoneMor’s website, and the investors section, at http://www.stonemor.com.
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