Scotmid Co-op has announced the acquisition of independent firm Fosters Funeral Directors for an undisclosed sum.
The retail society has purchased the entire issued share capital of the business, whose full name is Independent Family Funeral Directors Ltd. The move adds 24 funeral homes to Scotmid’s portfolio, bringing the total to 40, mainly throughout the central belt of Scotland.
Fosters Funeral Directors was established in 2011 by Tony Foster and subsequently undertook a period of expansion following investment by August Equity LLP in 2017. The company operates from its head office in Glasgow and employs around 80 members of staff.
“This is an exciting acquisition for Scotmid and is absolutely in line with our strategy to grow our funeral business,” said CEO Karen Scott. “The Fosters business is a great fit geographically extending our branch network further west and bringing with it some very experienced people in the funeral sector.”
Nick McLaughlin, managing director of Fosters, said: “By combining the strengths of these two well-respected brands, Scotmid and Fosters are poised to elevate funeral standards across Scotland. Customers can continue to expect a seamless, caring, and empathetic experience only made better by the unique values and principles of Scotland’s largest independent co-operative”.
Scott has also paid tribute to John Brodie who recently retired as CEO and who led the transaction on behalf of Scotmid. “John leaves us with a funeral business which is now much larger and geographically diverse,” she said.
