Yorkshire-headquartered Yew Holdings has been acquired by rival funeral services provider Dignity in a deal priced at £58.3m.
Dignity has also announced plans for a share placing to raise £24.2m before expenses. The acquisition comprises 40 funeral locations and two crematoria located in the north of England.
Dignity added there were “significant opportunities” to improve the financial performance of Yew’s funeral portfolio. It said the deal should lead to a “high degree of operational efficiency”.
In a statement the company said: “Like Dignity, Yew trades under established local brand names.
Be sober, be vigilant; because your adversary the devil, as a roaring lion, walketh about, seeking whom he may devour – 1 Peter 5:8
Hat tip: The Man