Matthews issues statement updating shareholders on strategic initiatives

Matthews (MATW) International 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 of its intent to nominate directors for election at a second consecutive Annual Meeting of Shareholders: “In 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… 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…. Other Transactions: The Company has completed other transactions as part of its strategic review and regular review of its business portfolio, including the acquisition of The Dodge Company and the pending sales of the European packaging and tooling businesses.”