Invocare acquires fifth business for CY18

Company News

by Anna Napoli

InvoCare (ASX:IVC) has announced that it has entered into a conditional sales agreement to acquire Albury Wodonga based funeral and cremation services business Lester & Son.

The funeral services provider says the acquisition is expected to complete by the end of July.

Lester & Son is the fifth acquisition by the company this calendar year.

The Victorian funeral business is well established in the region and generates revenue of around $3.5 million per annum.

Invocare says the acquisition provides an exciting opportunity to build on regional strategy and provides access to a highly attractive market.

Shares in Invocare (ASX:IVC) are trading 1.31 per cent higher to $13.88.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.