Dignity acquires Farewill for £12.9m
The firm has previously been recognised as the ‘National Will Writing Firm of the Year’ four times and as the ‘Consumer Business of the Year’
Funeral service provider Dignity has announced its acquisition of digital end-of-life specialist, Farewill Limited, yesterday (17 October) for £12.9m.
The acquisition will be financed through a share-for-share exchange, with the majority of Farewill shareholders becoming Castlenau – Dignity’s owner through a joint venture with Valderamma Ltd – shareholders.
While this deal has “important” strategic benefits for both companies, it will primarily reinforce Dignity’s position as the UK’s “largest and most comprehensive” end-of-life service provider.
Founded in 2015 by current CEO Dan Garrett and Tom Rogers, Farewill offer a range of later-life products, including wills, probate at-need funerals, and pre-paid funeral plans.
The firm has previously been recognised as the ‘National Will Writing Firm of the Year’ four times and as the ‘Consumer Business of the Year’.
In addition, Farewill has helped raise £1.1bn in pledges to charitable organisations.
The deal is not expected to be completed before 1 January 2025, subject to FCA approval.
Richard Brown, CEO of Castelnau, said: “The addition of Farewill to Dignity’s offering embodies Castelnau’s strategic ambitions for Dignity, helping Dignity to drive its digital transformation and serve its customers even better.
“We are pleased the structuring of the transaction has also allowed us to increase our ownership in Dignity, a business where we continue to see a significant value-creation opportunity.”
Dan Garrett, CEO of Farewill, added: “At Farewill, our mission has always been to make the end-of-life experience as straightforward and stress-free as possible. Joining forces with Dignity allows us to stay true to that mission while benefiting from the experience and resources of a company that has been a trusted name for generations.
“Farewill will continue to operate independently, with our own brand and focus, serving a growing audience that values the convenience and transparency of our services – alongside contributing to the group as we explore ways of improving every customers’ experience.”
