Business
Matthews International Announces Agreement with Barington Capital
Barington to withdraw its nominees to Matthews' BoardAgreement follows engagement on topics including ongoing strategic review and corporate governance
About this update from Matthews International Corporation
[{"type":"text","content":"Barington to withdraw its nominees to Matthews' BoardAgreement follows engagement on topics including ongoing strategic review and corporate governance enhancementsPITTSBURGH, Jan. 15, 2026 /PRNewswire/ -- Matthews International Corporation (NASDAQ GSM: MATW) (\"Matthews\" or the \"Company\") today announced that the Company has reached an agreement with Barington Capital and certain of its affiliates (\"Barington\") pursuant to which Barington will withdraw its previously submitted director nominations.\n \n \n \n \n \n \n \n\"We are pleased to have reached a constructive resolution with Barington that is in the best interests of all shareholders,\" said Alvaro Garcia-Tunon, Chairman of the Board of Matthews. \"With this outcome, our Board looks forward to advancing the Company's strategy and meeting our commitments to all stakeholders.\"Joseph C. Bartolacci, President and Chief Executive Officer of Matthews, stated: \"Matthews has taken decisive steps over the past 12 months to simplify our business mix, strengthen our balance sheet, and enhance our board composition and corporate governance. Our extensive multi-year engagement with Barington has yielded valuable insights that have helped us refine these ongoing strategic initiatives. Looking ahead, we remain focused on continuing to advance our strategic review and positioning Matthews for long-term shareholder value creation.\"James A. Mitarotonda, Chairman, President and CEO of Barington, said, \"We appreciate the dialogue that we have had with the Matthews Board and are pleased to have reached an agreement. We believe that Matthews' continuing strategic review, value creation plan and corporate governance changes are critical in achieving greater near- and long-term value for all shareholders.\"Pursuant to the agreement with Matthews, Barington will abide by standstill provisions and certain other restrictions. The full agreement will be disclosed in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission.J.P. Morgan Securities LLC is serving as financial advisor and Sidley Austin LLP is serving as legal counsel for Matthews. Olshan Frome Wolosky LLP is serving as legal counsel to Barington.About Matthews International CorporationMatthews International Corporation operates through two core global businesses – Industrial Technologies and Memorializatio...