Carriage Services Announces the Acquisition of Heritage Funeral and Cremation Services and Forest Lawn East Cemetery

HOUSTON, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV) ("Carriage" or "Carriage Services") is pleased to announce that it has acquired substantially all the assets of Heritage Funeral and Cremation Services and Forest Lawn East Cemetery ("Heritage"), a business consisting of three stand-alone funeral homes, a cemetery, and a cremation focused business, located in the Charlotte, North Carolina market.

“When we started considering our options for a succession plan, we knew exactly the type of company we had in mind. We wanted a company that would respect us and what our team had built and would allow us the flexibility to continue operating as we always had to achieve our goals and serve our families. We were able to find all that and more with Carriage and the transition has been seamless thanks to their approach in blending us into their operation. I cannot wait to see what the future holds for all of us,” stated Harris High and Carolyn Williams, former owners of Heritage Funeral and Cremation Services and Forest Lawn East Cemetery for the last 25 and 51 years, respectively.

"As we have gotten to know Harris and Carolyn, we have had the good fortune to learn more about their passion for Heritage, Forest Lawn East, their community and their team. We are committed to protecting and building upon that passion and the legacy that they, along with Carolyn’s father, have built over the years.

The addition of Heritage, as a leader serving more than 1,200 families a year in one of the fastest growing markets in the country, aligns well with our focus on partnering with the best remaining independent funeral and cemetery businesses in high growth strategic markets. We are honored that Harris and Carolyn have selected Carriage and we look forward to supporting the Heritage team in the years to come," stated Steve Metzger, Executive Vice President and Chief Administrative Officer for Carriage Services.

About Carriage Services
Carriage Services is a leading provider of funeral and cemetery services and merchandise in the United States. Carriage operates 173 funeral homes in 26 states and 32 cemeteries in 11 states. For more information, please contact us at investorrelations@carriageservices.com.

Cautionary Statement

Certain statements made herein or elsewhere by, or on behalf of, Carriage (the "Company") that are not historical facts are intended to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions that the Company believes are reasonable; however, many important factors, as discussed under "Forward-Looking Statements and Cautionary Statements" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, could cause the Company's results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of, the Company. The Company assumes no obligation to update or publicly release any revisions to forward-looking statements made herein or any other forward-looking statements made by, or on behalf of, the Company. A copy of the Company's Annual Report on Form 10-K, the Company's Quarterly Reports on Form 10-Q, and other information about the Company and news releases, are available at http://www.carriageservices.com.