At last 10K date, around 16% for funeral + cemetery in North America. There is not much to buy in their space in size, and it is still very fragmented. They bought the Loewen legacy entity back in 2006 (#2 Alderwoods). They are very tightly regulated on antitrust and monitored on that at the state and local level since that is where the pricing power would be. People are often surprised how tightly they are regulated in numerous aspects (antitrust, trusts, insurance etc.). They keep on buying "mom and pops" or very small operations every year (estate planning etc. ). Some states don't let you own both funeral and cemeteries. They keep buying back stock etc. It's a money machine.
At last 10K date, around 16% for funeral + cemetery in North America. There is not much to buy in their space in size, and it is still very fragmented. They bought the Loewen legacy entity back in 2006 (#2 Alderwoods). They are very tightly regulated on antitrust and monitored on that at the state and local level since that is where the pricing power would be. People are often surprised how tightly they are regulated in numerous aspects (antitrust, trusts, insurance etc.). They keep on buying "mom and pops" or very small operations every year (estate planning etc. ). Some states don't let you own both funeral and cemeteries. They keep buying back stock etc. It's a money machine.
Glenn, any sense of SCI's market share and how much more they could consolidate without antitrust concerns? Thanks