Last updated on January 10th, 2023 at 11:13 am
The companies first announced the deal in October. But the transaction was officially completed on Dec. 2, Krause president Mark Krause said Friday.
Although the ownership of Krause’s four funeral home locations has officially transferred to Foundation Partners, Krause said he will still be leading operations at facilities, located at 21600 W. Capitol Drive in Brookfield, 7001 W. Brown Deer Road in Milwaukee, 9000 W. Capitol Drive in Milwaukee, and 12401 W. National Ave. in New Berlin. The properties themselves sold to the Florida company for just under $13.4 million, according to state property records posted Friday.
Founded in 1933, Krause’s funeral home and cremation business has grown substantially over the last 30 years, and it’s precisely that growth that prompted the company to partner with a larger operator in hopes of ensuring the continued growth and longevity of the business, Krause said. In 2022, the company served 1,850 families across its various funeral home locations and services, which includes Informed Choice, a lower-price point funeral service, and Milwaukee Cremation.
“I am looking towards the future,” said Krause, who turns 66 in March. “We needed to affiliate with a larger group so we can continue to bring more services to our customers and staff. Foundation Partners is one of the largest funeral home groups in the country. They’re helping us to evolve. We have been acquired, but really we are affiliating with them.”
In addition to continuing to be the face of Krause funeral homes, Mark Krause said Foundation Partners is making him part of their national leadership team by bringing him on as their vice president of industry and government relations for the United States.
“The position covers funeral laws and regulations, so I will be looking at how we take our profession to the next level and have it continue to evolve in a positive way,” he said.
Founded in 2010, Foundation Partners owns funeral homes in 230 locations across the country.
“Mark’s history of expanding funeral service offerings to anticipate how, when and where families want to be served is a perfect match for our vision for the company and the industry,” said Kent Robertson, Foundation Partners Group president and CEO said in October. “He has played a critical role in the conversation around cremation and the laws that impact the profession. We’re looking forward to working with him to expand his advocacy on behalf of the entire deathcare industry.”