On December 12, 2018, Propel Funeral Partners announced that they signed conditional sale agreements with multiple vendors to acquire the business, assets and specific freehold properties in New Zealand associated with: Dils Funeral Services, Schnapper Rock Cremations, Rowley Funeral Services, and Martin Williams Funeral Directions.
These businesses generated approx. NZ$7.2 million of revenue in the last financial year and conduct approx. 800 funerals per annum. As part of the deal, Propel will acquire three freehold properties which include:
- First, a full funeral service facility a circa of 14,600sqm in the North Shore of Auckland which consist of a chapel with a seating up to 200 people, an adjacent reception and refreshment lounge, three private viewing areas, two garden courtyards, a cremation facility, car parking, administrative offices and a circa of 6,600sqm parcel of vacant land.
- A circa of 650sqm converted dwelling in Devonport, it includes a mortuary and a small chapel.
- A circa of 440sqm funeral home in Birkenhead, it consists of a chapel, office and viewing room.
Propel Funeral Partners (ASX: PFP) is in death care services. The company was started in 2012 and listed in 2017. They possess funeral homes, cemeteries, crematoria, and related assets in Australia and New Zealand.