Four New Orleans-area funeral homes that were listed for sale as part of Service Corporation International’s recent acquisition of Jefferson-based Stewart Enterprises Inc. have been sold.
Schoen Funeral Home and Greenwood Funeral Home in New Orleans and Garden of Memories Funeral Home and Cemetery and Tharp-Sontheimer Funeral Home in Metairie were acquired Friday by Carriage Services Inc., the Houston-based funeral home and cemetery operator said.
SCI, also a Houston company, listed the local funeral homes and dozens of other properties for sale late last year.
SCI was ordered to divest itself of 91 properties — 53 funeral homes and 38 cemeteries — as part of a Federal Trade Commission antitrust agreement allowing the company to purchase Stewart. The $1.13 billion cash deal combined the two largest funeral home and cemetery operators in the nation.
The FTC expressed concern that the merger, giving SCI 15 percent of the nationwide market, would harm customers.
Before the merger, Schoen, Garden of Memories and Tharp-Sontheimer were owned by SCI, the dominant player in the death care industry. Greenwood was owned by Stewart, the industry’s second-largest company.
Before being sold, Stewart, founded in 1910, owned and operated 217 funeral homes and 141 cemeteries in the United States and Puerto Rico.
Carriage Services, now the nation’s second-largest death care provider, operates 167 funeral homes in 27 states and 32 cemeteries in 11 states.