Hillenbrand, Inc has finished delivering a nail in the Funeral Industry’s Coffin finalizing an almost half a billion dollar purchase of the Non Funeral Company K-Tron. The deal was finalized for $435 Million US Dollars.
For the Largest Casket Company in America This is an admission of Funeral Industry Decline. Hillenbrand Inc is not just going outside the Casket Sale for revenue But outside the Funeral and Death Care Industry.
This is an example of the depth of the recession or if you like the jobless recovery the US Economy is experiencing.
This is an example of the extreme a traditional funeral industry giant(NYSE:HI) will go to deal with the rise of cremation and the traditional funeral industry decline.
“Casket maker Hillenbrand Inc. said Thursday it has completed the acquisition of manufacturer K-Tron International Inc. for about $435 million.
K-Tron will become a unit of the Batesville, Ind., company. K-Tron shareholders received about $150 per share in cash for their common stock in the deal, which was announced in January.
Hillenbrand said the expected purchase price will total about $379 million, when adjusted for K-Tron debt and cash on hand as of Thursday.
K-Tron, which is based in Pitman, N.J., makes industrial feeders and pneumatic conveyers. Hillenbrand owns the Batesville Casket Co. and makes cremation products but is seeking to diversify its portfolio.
Hillenbrand used cash on hand and debt financing to fund the deal. The company said the acquisition will start adding to Hillenbrand’s earnings per share this year.”via www.pddnet.com
Funeral industry|Funeral News|Funeral Blog by Your Funeral Guy
Disclaimer:Your Funeral Guy has no affiliation or fiduciary relationship relationship Batesville Casket Company or Hillenbrand Inc. He does not recommend use of this company in Funeral Arrangements. He does not “NOT” recommend the use of Batesville Casket Company or Hillenbrand Inc. Funeral arrangements are a personal and important decision.