Business
Matthews International Announces Closing of Warehouse Automation Sale
Matthews received $232.1 million in total consideration for its Warehouse Automation business.The proceeds from the transaction, net of taxes and transaction
About this update from Matthews International Corporation
[{"type":"text","content":"Matthews received $232.1 million in total consideration for its Warehouse Automation business.The proceeds from the transaction, net of taxes and transaction costs, will be used to significantly reduce outstanding debt.Matthews' strategic review remains ongoing.PITTSBURGH, Dec. 31, 2025 /PRNewswire/ -- Matthews International Corporation (NASDAQ GSM: MATW) (\"Matthews\" or the \"Company\") today announced the successful closing of the sale of its Warehouse Automation business to Duravant, LLC (\"Duravant\"). Under the terms of the transaction, Matthews received total consideration of $232.1 million, representing cash consideration of $225.4 million plus the assumption of certain liabilities of the business. The Warehouse Automation business generated sales of $72 million in fiscal 2025.\n \n \n \n \n \n \n \nJoseph C. Bartolacci, President and Chief Executive Officer of Matthews International, stated: \"This transaction is a direct outcome of the strategic alternatives evaluation, reflecting our commitment to unlocking shareholder value and further reducing our debt toward our long-term net leverage ratio goal of 2.5x. The total purchase price represents a compelling valuation multiple that is significantly accretive to Matthews' current trading range. Following this announcement, the Company's strategic alternatives review to enhance shareholder value creation remains ongoing.\"About Matthews International CorporationMatthews International Corporation operates through two core global businesses – Industrial Technologies and Memorialization. Both are focused on driving operational efficiency and long-term growth through continuous innovation and strategic expansion. The Industrial Technologies segment evolved from our original marking business, which today is a leading global innovator committed to empowering visionaries to transform industries through the application of precision technologies and intelligent processes. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. In addition, the Company also has a significant investment in Propelis, a brand solutions business formed through the merger of SGK and SGS & Co. Propelis delivers int...