Business
Matthews International Provides Update on Actions to Create Shareholder Value and Addresses Director Nominations
Ongoing strategic review has resulted in divestitures generating significant proceeds, simplifying Matthews' business mix and strengthening its balance
About this update from Matthews International Corporation
[{"type":"text","content":"Ongoing strategic review has resulted in divestitures generating significant proceeds, simplifying Matthews' business mix and strengthening its balance sheetConfirms receipt of another notice of director nominations from Barington, less than one year after Barington unsuccessfully ran a proxy contest at the 2025 annual meetingMatthews' shareholder proposals will include board declassification and the adoption of majority voting among other changes desired by investorsShareholders not required to take any action at this timePITTSBURGH, Dec. 7, 2025 /PRNewswire/ -- Matthews International Corporation (NASDAQ GSM: MATW) (\"Matthews\" or the \"Company\") today issued the following statement updating shareholders on the Company's ongoing strategic initiatives and confirming receipt of another notice from Barington Capital L.P.'s (\"Barington\") of its intent to nominate directors for election at a second consecutive Annual Meeting of Shareholders:\n \n \n \n \n \n \n \nMatthews Board and Management Continue to Take Decisive Actions to Advance Strategic InitiativesIn November 2024, we announced that the Board had engaged J.P. Morgan to assist the Company with a review of strategic alternatives. In the year since, the Board and management team have rigorously evaluated the Company's portfolio of businesses, thoughtfully considered shareholder feedback about the Company, and decisively acted to enhance shareholder value. The ongoing strategic review has already simplified the Company's business mix and strengthened our balance sheet:SGK Brand Solutions: In January 2025, the Company announced the sale of the SGK Brand Solutions business to Propelis. Upon closing of the sale in May, the Company realized $350 million of total upfront consideration and received a 40% stake in the common stock of Propelis, allowing the Company's shareholders to benefit from cost synergies and continued business growth. Since the closing in May, Propelis is on track to perform at an annual rate well above the $100 million adjusted EBITDA of the combined entities as of their closing date.Warehouse Solutions: In November 2025, the Company announced the sale of the Warehouse Automations business to Duravant for total consideration of $230 million, representing cash consideration of $223.3 million plus the assumption of certain liabilities of the business. The tot...