PITTSBURGH, Nov. 13, 2025 — Matthews International Corporation (NASDAQ GSM: MATW) (“Matthews” or the “Company”) today announced that the Company signed a definitive agreement for the sale of its Warehouse Automation business to Duravant LLC (“Duravant”), a global leader in engineered equipment and automation solutions. The Warehouse Automation business is part of the Company’s Industrial Technologies segment and includes leading Lightning Pick, NEXUS, Pyramid, and Compass technologies for pick-to-light systems, warehouse control system (WCS) and warehouse execution system (WES) software, and PLC controls solutions.
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.
Joseph C. Bartolacci, President and Chief Executive Officer 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. J.P. Morgan conducted an extensive process for the Warehouse Automation business and, as a result, we determined that Duravant delivered the best value for our shareholders and provides a strong platform for the continued growth of this business.”
Mr. Bartolacci added, “Following this announcement, the Company’s strategic alternatives review to enhance shareholder value creation remains ongoing.”
The transaction is subject to regulatory approval and is expected to close before the end of the Company’s fiscal 2026 second quarter.
About Matthews International Corporation
Matthews International Corporation operates through two core global businesses – Industrial Technologies and Memorialization. Both are focused on driving operational efficiency and long-term growth through continuous innovation and strategic expansion. The Industrial Technologies segment evolved from our original marking business, which today is a leading global innovator committed to empowering visionaries to transform industries through the application of precision technologies and intelligent processes. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. In addition, the Company also has a significant investment in Propelis, a brand solutions business formed through the merger of SGK and SGS & Co. Propelis delivers integrated solutions including brand creative, packaging, print solutions, branded environments, and content production. Matthews International has over 5,400 employees in 19 countries on four continents that are committed to delivering the highest quality products and services.
About Duravant
Duravant is a global leader in advanced automation solutions operating across the food processing, packaging, and material handling industries. Founded on more than a century of expertise, Duravant delivers performance-driven technologies, integrated systems and full lifecycle services that drive productivity, efficiency and safety for the world’s producers and movers of high demand goods. The company serves a broad range of essential end markets including food & beverage, agriculture, consumer and industrial goods, e-commerce, and logistics. Headquartered in Downers Grove, Illinois, and serving customers in more than 190 countries, Duravant unites a portfolio of leading brands under a shared commitment to quality, innovation and customer success. For more information, visit www.duravant.com.
Press Contact
Matthews International Corporation
Corporate Office
Two NorthShore Center
Pittsburgh, PA 15212-5851
Phone: 412.442.8200
Contact: Steven F. Nicola, Chief Financial Officer
