Hillenbrand reaches deal to sell Batesville Casket for $761M

BATESVILLE, Ind. (AP) — Hillenbrand Inc. has reached an agreement to sell its Batesville Casket Co. subsidiary to an affiliate of a Connecticut-based private equity firm for $761.5 million. Thursday’s announcement of the deal with an affiliate of LongRange Capital provided no guidance on what impact the sale might have on Batesville Casket, its employees or its holdings in southeastern Indiana. But the Indianapolis Business Journal reports Hillenbrand said that both it and Batesville Casket would continue to be headquartered in Batesville, an Indiana community about 60 miles southeast of Indianapolis. Batesville Casket is the largest producer of caskets in the U.S. The casket-making business began operation in 1884.