MHI GROUP SIGNS LETTER OF INTENT FOR TWO FUNERAL HOMES AND CREMATORY IN PENSACOLA, FLA.
TALLAHASSEE, Fla., Dec. 18 /PRNewswire/ -- MHI Group, Inc. (NYSE: MH), which markets pre-need and at-need funeral and cemetery services, today announced it has signed a letter of intent for the cash purchase of two funeral homes and one crematory in Pensacola, Fla. "The Pensacola market offers substantial opportunities for MHI because of its favorable demographics and its proximity to our other locations in Florida's Panhandle," Fred O. Drake Jr., chairman and chief executive officer, said. Consummation of the transaction is subject to a number of conditions including the negotiation of a definitive agreement. MHI currently owns and operates eight funeral homes (three of which were purchased in November of 1992) and four cemeteries in Florida. -0- 12/18/92 /CONTACT: J.C. Ogier Mathews of MHI, 904-385-8883/ (MH)
CO: MHI Group, Inc. ST: Florida IN: SU: TNM
GK-SH -- NY020 -- 8104 12/18/92 10:04 EST
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|Date:||Dec 18, 1992|
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