InvoCare (ASX:IVC) share price on watch after acquisition announcement // Motley Fool Australia

The InvoCare Limited (ASX: IVC) share price will be on watch on Thursday following the release of an announcement after the market close.

What did InvoCare announce?

This afternoon the funerals company announced that it has entered into conditional sales agreements to acquire 100% of the shares of Family Pet Care and the business and assets of Pets in Peace.

InvoCare has agreed a combined price of $49.8 million, of which $11.5 million represents deferred consideration subject to the attainment of 2-year earnings targets.

Management notes that the two acquisitions will provide InvoCare a national footprint and position it as the market leader in pet cremation and pet after life services in Australia.

They also represent a strategic…