Duke Street in Talks to Acquire Funeral Partners in £200m Deal
A significant deal is on the horizon in the UK's funeral services sector. The former owner of Wagamama restaurants, Duke Street, is in advanced talks to acquire Britain's third-largest funeral services provider, Funeral Partners, in a transaction valued at nearly £200m.
Funeral Partners, currently owned by Montagu Private Equity, manages over 20,000 funeral services each year and operates from more than 280 branches nationwide. The potential sale is being advised by HSBC. This isn't Duke Street's first foray into the funeral industry. They previously owned Laurel Funerals. Duke Street's interest in Funeral Partners was sparked by Langham Hall, who introduced them to the opportunity. If the deal goes through, it will mark a return to the sector for Duke Street, which sold Laurel Funerals some years ago.
Duke Street is currently in exclusive negotiations to buy Funeral Partners, with HSBC acting as advisor. The deal, worth close to £200m, would see Duke Street re-enter the funeral services industry, following its previous ownership of Laurel Funerals.
