Propel Funeral Partners snaps up Otago operator for $A4.6m

Southern Funeral Home has five sites on the South Island.

Tue, 30 Jan 2024

Australian Securities Exchange listed company Propel Funeral Partners is buying Southern Funeral Home for about A$4.6 million.Southern Funeral Home operates from five South Island sites, including a crematorium, in Alexandra, Queenstown, Cromwell and Gore.Around 65% of the purchase price relates to real estate, including an estimated A$4.4m in cash and around A$230,000 from the issue of 44,971 Propel ordinary shares on completion. Another estimated A$500,000 will be payable in cash if certain financial milestones are reached...

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