Stewart Enterprises
| Company type | Public |
|---|---|
| Industry | Funeral and cemetery services |
| Founded | 1910 in New Orleans, Louisiana, United States |
| Founder | Albert Stewart |
| Defunct | 2013 |
| Fate | Acquired by Service Corporation International |
| Headquarters | Jefferson, Louisiana , United States |
Area served | 24 states in the United States and Puerto Rico |
Key people | Frank B. Stewart, Jr. (Chairman), Thomas J. Crawford (CEO), Thomas M. Kitchen (CFO) |
| Products | Funeral homes, cemeteries, mausoleums, preneed sales |
Number of employees | 5400 |
| Parent | Service Corporation International |
Stewart Enterprises, Inc., established in 1910, was a prominent funeral and cemetery service provider and ranked as the second-largest company of its kind in the United States prior to being acquired in 2013.
By the time it became a publicly traded company in 1991, Stewart Enterprises was based in Jefferson, Louisiana and employed approximately 5,400 individuals. Its operations included 218 funeral homes and 140 cemeteries spread across 24 states as well as Puerto Rico. The company's stock was listed on the NASDAQ exchange under the ticker symbol STEI.
In December 2013, Stewart Enterprises was purchased by Service Corporation International for $1.4 billion.
History
The company was founded in New Orleans in 1910 by Albert Stewart, initially through the acquisition of three St. Vincent de Paul Cemeteries along with a monument manufacturing business. It was formally incorporated in 1931 under the name Acme Marble & Granite Co. Under the leadership of Albert Stewart’s heirs, the firm broadened its cemetery holdings, notably opening Lake Lawn Park Cemetery in 1949 featuring an extensive perpetual-care mausoleum, and acquiring Metairie Cemetery in 1969.
Expansion
Throughout the 1980s, Stewart broadened its reach beyond Louisiana and Texas, entering markets including Florida, Maryland, Washington, D.C., and West Virginia. The executive team at that time comprised Chairman Frank B. Stewart, Jr., CEO Thomas J. Crawford, and CFO Thomas M. Kitchen. Following its initial public offering in 1991, the company expanded operations to cover 30 states and extended internationally to 12 countries. In 1997, Stewart collaborated with the Archdiocese of Los Angeles to establish funeral homes at nine Church-operated cemeteries and oversee preneed sales at eleven locations. The company marked its 100th anniversary on April 26, 2010.
Associations
Stewart’s related enterprises include Acme Mausoleum Corporation operating in Texas and Louisiana; Tributes.com, an online platform for memorials; and Investor Trust, Inc. (ITI), a Texas-based investment entity responsible for managing preneed trusts and Stewart’s investment portfolio. The company holds ownership of several historically significant cemeteries such as Metairie Cemetery (New Orleans, La.), Royal Palm Memorial Gardens and Funeral Home (West Palm Beach, Fla.), and Wisconsin Memorial Park (Brookfield, Wis.).
Approximately 41% of Stewart’s business is concentrated within California, Florida, and Texas—regions notable for their large senior citizen populations.