Service Corporation International (the world’s largest funeral corporation) recently purchased the #5 Funeral Corporation . In an effort to maintain control of property required to be divested(sold as part of the deal and required by the FTC.) several Keystone execs(#5) will maintain control of the businesses sold.
Several Keystone Executives have formed a company and purchased the property. This shows the extent corporate leaders in the Funeral Industry go to maintain, control of your funeral dollar.
Snippet from the Memorial Business Journal-
It seems that the funeral home/cemetery acquisiton market has a new player. What was speculated for months is moving closer to fruition as three former top executives at Keystone North America have formed a new company and are moving forward with the acquisition of the properties the Federal Trade Commission last month ordered divested by Service Corporation International in order to complete the company’s acquisition of Keystone.
The company, Foundation Partners Group, will be headed by Steve Shaffer, who is president and chief executive officer. Shaffer was previously chief financial officer at Keystone. Jim Price, who co-founded Keystone in 1996 and was the company’s chief operating officer, is Foundation Partner’s executive vice president and chief operating officer; and Chris Thomley, who has served as Keystone’s chief accounting officer since 2005, becomes chief financial officer.
Funeral industry| Funeral News by Your Funeral Guy