Business
Matthews International Corporation Announces Clearance of Remaining Foreign Anti-Trust Regulatory Requirements
PITTSBURGH, April 15, 2025 (GLOBE NEWSWIRE) -- Matthews International Incorporation ("Matthews" and/or the "Company") previously reported, in February 2025,
About this update from Matthews International Corporation
[{"type":"text","content":"PITTSBURGH, April 15, 2025 (GLOBE NEWSWIRE) -- Matthews International Incorporation (\"Matthews\" and/or the \"Company\") previously reported, in February 2025, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the proposed sale of its interest in SGK Brand Solutions (“SGK”) to a newly formed entity created by affiliates of SGS & Co (“SGS”), which will combine SGK and SGS. Today, the Company has announced the clearance of all remaining foreign anti-trust and competition authority regulatory requirements. As a result, the parties anticipate closing before the end of the current fiscal quarter, subject to the satisfaction of other customary closing conditions. Mr. Bartolacci, President and Chief Executive Officer of Matthews, stated: “We look forward to closing the transaction and beginning to realize the significant opportunities through the combination of these businesses. As previously indicated, the Company intends to apply the cash proceeds received upon closing primarily for debt reduction purposes. However, given the recent value of the Company’s common stock, we also now expect to utilize a portion of the proceeds for stock repurchases.” About Matthews InternationalMatthews International Corporation is a global provider of memorialization products, industrial technologies, and brand solutions. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets, cremation-related products, and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Industrial Technologies segment includes the design, manufacturing, service and sales of high-tech custom energy storage solutions; product identification and warehouse automation technologies and solutions, including order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products; and coating and converting lines for the packaging, pharma, foil, décor and tissue industries. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has over 11,000 employees in more than 30 countries on six continents that are ...