Matthews announces closing of Warehouse Automation sale

Matthews (MATW) International announced the successful closing of the sale of its Warehouse Automation business to Duravant. Under the terms of the transaction, Matthews received total consideration of $232.1M, representing cash consideration of $225.4M plus the assumption of certain liabilities of the business. The Warehouse Automation business generated sales of $72M in fiscal 2025. Joseph Bartolacci, President and CEO 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.”