Park Lawn Corp. recently announced that it has completed the acquisition of substantially all the assets of Cobb Funeral Chapel and Cobb Suncrest Memorial Gardens, a business consisting of one on-site funeral home and cemetery located in Moultrie, Georgia.

“Park Lawn has further expanded its strategic growth in the southeast United States through the addition of Cobb.  The Cobb business has an exemplary reputation and has been a staple of its community for nearly fifty years.  We are excited to welcome the Cobb team to the Park Lawn family,” said J. Bradley Green, chief executive officer of Park Lawn Corp.

“Since 1974, we have proudly served Colquitt County, Georgia and its surrounding communities.  The culture and values of Cobb closely align with those of Park Lawn and we are excited that our partnership allows us to continue our legacy of providing best-in-class service to our families,” said Ellen Cobb-Robinson, a former owner of Cobb.

Highlights of the transaction include:

  • The addition of one on-site funeral home and cemetery.
  • The transaction represents 280 calls and 50 interments per year and is expected to be financed with funds from Park Lawn’s credit facility and available cash on hand.
  • The Cobb acquisition is expected to add approximately $676,710 in Adjusted EBITDA annually.
  • For the 12 months ended Dec. 31, 2022, Park Lawn had Adjusted EBITDA of $74.9 million and net earnings of $25.1 million.
  • The agreed upon purchase price multiple for the transaction is within Park Lawn’s publicly-stated targeted adjusted EBITDA multiple range for its historical transactions.

About Park Lawn Corp.

Park Lawn Corp. provides goods and services associated with the disposition and memorialization of human remains.  It operates in three Canadian provinces and 19 U.S. states.

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