Business
MATTHEWS INTERNATIONAL ANNOUNCES PARTIAL REDEMPTION OF PREFERRED EQUITY INTEREST IN PROPELIS
PITTSBURGH, May 19, 2026 /PRNewswire/ -- Matthews International Corporation (NASDAQ GSM: MATW) today announced receipt of $28 million of proceeds for the
About this update from Matthews International Corporation
[{"type":"text","content":"PITTSBURGH, May 19, 2026 /PRNewswire/ -- Matthews International Corporation (NASDAQ GSM: MATW) today announced receipt of $28 million of proceeds for the partial redemption of its preferred equity interest in Propelis.\n \n \n \n \n \n \n \nIn discussing this redemption, Joseph C. Bartolacci, President and Chief Executive Officer, stated: \"The Propelis joint venture has continued to perform in line with our expectations since the merger of our SGK Brand Solutions business with SGS & Co. one year ago. This redemption is further evidence of the business' ability to continue to grow adjusted EBITDA, capture synergies, and ultimately return value to its shareholders.\"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 integrated solutions including brand creative, packaging, print solutions, branded environments, and content production. Matthews International has over 4,300 employees in 15 countries on four continents that are committed to delivering the highest quality products and services.Forward-looking InformationAny forward-looking statements contained in this release are included pursuant to the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, and may be identified by the use of words such as \"expects,\" \"believ...