InvoCare Limited is on buying spree

Acquisition of the business and assets of Archer & Sons Funeral Homes: InvoCare Limited’s (ASX: IVC) stock rose 2.66% on July 12, 2018 after the company entered into a conditional sales agreement for the acquisition of the business and assets of Archer & Sons Funeral Homes (“Archers”) based in the south west region of Western Australia. The proposed acquisition is expected to complete on 20th July 2018. This deal reflects an opportunity for IVC to secure a quality business in this fast-growing region and provides a further platform for growth of its regional strategy. The south west region of WA has significant potential for the growth of the company. Moreover, IVC had recently entered into an unconditional sales agreement for the acquisition of the business and assets of English Rose Funerals based at Old Noarlunga in Adelaide, South Australia, and a planned completion date is of mid July 2018. English Rose is the sixth acquisition IVC had announced in CY 2018. Meanwhile, IVC stock has risen 11.65% in three months as on July 11, 2018  and is trading at a P/E of 15.65x.


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