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Matthews International Announces Closing of Warehouse Automation Sale

  • Matthews International Corporation completed the sale of its Warehouse Automation business to Duravant, LLC for $232.1 million in total consideration.
  • The total consideration comprises $225.4 million in cash plus the assumption of certain business liabilities by the buyer.
  • Proceeds from the transaction, net of taxes & transaction costs, will be used to significantly reduce outstanding debt.
  • The divested business generated $72 million in sales during fiscal 2025.
  • Matthews CEO Joseph C. Bartolacci stated the transaction reflects a commitment to unlocking shareholder value & reducing debt toward a net leverage ratio goal of 2.5x.
  • The strategic review to enhance shareholder value creation remains ongoing following the announcement.
  • Matthews International operates two core global segments: Industrial Technologies & Memorialization.
  • The company also holds a significant investment in Propelis, a brand solutions business formed from the merger of SGK & SGS & Co.
  • Matthews employs over 5,400 people across 19 countries on four continents.