Matthews announces sale of warehouse automation business for $230M

Matthews (MATW) International announced that the Company signed a definitive agreement for the sale of its Warehouse Automation business to Duravant, a global leader in engineered equipment and automation solutions. The Warehouse Automation business is part of the Company’s Industrial Technologies segment. Under the terms of the agreement, Matthews will receive total consideration of $230 million, representing cash consideration of $223.3 million plus the assumption of certain liabilities of the business. The total purchase price represents a compelling valuation multiple that is significantly accretive to Matthews’ current trading range. The proceeds from the transaction, net of taxes and transaction costs, will be primarily used to significantly reduce outstanding debt, further strengthening the Company’s balance sheet and enhancing its capacity to pursue future strategic initiatives. The Warehouse Automation business generated sales of $72 million for fiscal 2025.