Purchase by Matthews International Indicates Funeral Industry Decline-YourFuneralGuy

20 Oct

Matthews International purchase of a casket company indicates  the  continued Funeral Industry Decline. Purchasing “Freeman” consists of a casket company consolidation.

Matthews International Corporation ……..announced its acquisition of Freeman Metal Products, Inc. and related entities, including F&F Metal Products, Inc., Esser Casket Co., and Southern Heritage Casket Co. (collectively “Freeman“). Freeman, which has manufacturing operations in North Carolina, Texas and Alabama, is also a distributor of caskets primarily in the Southeast and South central regions of the United States. Terms of the transaction were not immediately disclosed. Freeman reported sales of approximately $21 million in calendar 2009.

Joseph C. Bartolacci, President and Chief Executive Officer of Matthews, stated: “Freeman is an outstanding organization and their customer focus is well-respected in the casket industry. We are excited to welcome them to our Funeral Home Products team and look forward to working with their customers and the Freeman family of distributors. This acquisition is expected to provide synergies in the manufacturing and distribution of our products and to expand Matthews’ market presence particularly in the Southeast and South central regions of the United States.”

via www.marketwatch.com

funeral Industry|Funeral News|Funeral Blog by Your Funeral Guy

Enhanced by Zemanta
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: