Western Catalan has reached an agreement this Friday to buy the Mémora group to the global investor Ontario Teacher’s Pension Plan Board and to the management team of the funeral home for 387.5 million euros. According to the insurer, the estimated value of the company it has acquired is 600 million. The purchase is subject to the approval of the regulatory authorities both a Spain as in Portugal, where the funeral group also operates. In this way, Catalana Occidente increases its presence in the burial and cremation sector in thestatus and enters the Portuguese market. Mémora owns or manages 139 funeral homes, 39 crematoria and 18 cemeteries. It employs around 1,500 people and manages around 50,000 services annually.
Mémora is the funeral group with the largest presence in the Girona regions. At present it has funeral homes in Girona, Salt, Blueberries, bathrooms, Blanes, Besalú, the Bisbal d’Empordà, The Scale, Maçanet de la Selva, Palafrugell, Saint Hilary Sacalm, Roses i Torroella de Montgrí. Ontario Teacher’s Pension Plan Board entered the capital of the Mémora group five years ago and its CEO, Jean-Charles Douin, has affirmed that they are now leaving having fulfilled the planned investment plan. In July 2017, the entry of the Canadian pension fund into the funeral group was announced for 500 million euros.