Funeral company InvoCare (ASX:IVC) has entered into two conditional sales agreements to buy Grafton & District Funerals and Clarence Valley Funerals in New South Wales.
The proposed acquisitions are hoped to be complete by mid-August this year.
The business conducts around 300 funeral services and generates revenue of circa $2 million per annum.
The acquisition represents InvoCare’s continued expansion into regional markets.
Shares in InvoCare (ASX:IVC) closed 1.06 per cent lower to $14.03 yesterday.