Teachers’ buying stake in funeral services provider

Ontario Teachers’ Pension Plan has agreed to acquire a 30% interest in OGF, the leading funeral services provider in France, from Pamplona Capital Management.

Terms of the deal weren’t disclosed.

Teachers’ intends to increase its stake to more than 40% over time, while investment management firm Pamplona will remain the majority shareholder.

Read: Teachers’ to buy a stake in CSC ServiceWorks

Teachers’ and Pamplona have partnered and invested in CSC ServiceWorks in 2014.

OGF, founded 170 years ago, has a nationwide network of 1,000 branches, 468 funeral homes and 53 crematoria.

The transaction is expected to close on Sept. 25.

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