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Matthews International Corporation (MATW) is a leading provider of brand solution services, memorialization products, and industrial products. Established over a century ago, the company has grown and diversified, now operating through three main business segments: Brand Solutions, Memorialization, and Industrial. These segments collectively generate over $1.4 billion in sales annually and boast a workforce of more than 10,000 employees spanning six continents.
Brand Solutions focuses on managing brand standards across all packaging components. The acquisition of SGK, a prominent brand development, activation, and deployment company, has further strengthened Matthews' capabilities in this sector. SGK operates in over 20 countries, driving brand performance for consumer packaged goods and packaging industries. The services offered include brand development, creative design, printing equipment, and embossing tools.
Memorialization is another cornerstone of Matthews' operations, with a legacy of over 150 years in the industry. The company provides a comprehensive range of products and services to cemeteries and funeral homes, including bronze and granite memorials, caskets, and cremation equipment. This segment is built on a foundation of quality and customer service, key aspects that have sustained its leadership position over the decades.
The Industrial segment caters to various markets with high-quality products and services. Although this segment is less highlighted compared to Brand Solutions and Memorialization, its contribution remains significant.
Financially, Matthews International is strong, with a significant portion of its revenue generated from the U.S. market, supported by a notable European customer base. The company's continuous focus on quality improvement in every business facet ensures sustained growth and market leadership.
For more detailed and up-to-date information, including the latest news and financial results, visit Matthews International Corporation's official website or contact their corporate office.
Matthews International announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its proposed sale of SGK Brand Solutions. The transaction involves selling Matthews' interest in SGK to a newly formed entity created by affiliates of SGS & Co, which will combine SGK and SGS operations.
The company anticipates closing the transaction in the next quarter, pending receipt of remaining outstanding regulatory approvals and satisfaction of other customary closing conditions. This announcement marks a significant step forward in Matthews' divestiture process as the HSR waiting period expiration removes a key regulatory hurdle for the transaction.
Matthews International (NASDAQ: MATW) announced that shareholders have elected all three of the Company's director nominees at its 2025 Annual Meeting. Based on preliminary vote results, Terry L. Dunlap, Alvaro Garcia-Tunon and J. Michael Nauman have been elected to the Company's Board of Directors.
Board Chair Alvaro Garcia-Tunon stated that the vote outcome validates Matthews' strategy, Board composition, and CEO Joe Bartolacci's leadership, as well as recent governance actions taken in response to shareholder feedback. The company, celebrating its 175th year of continuous operation, acknowledges the need for continued improvement in performance to meet shareholder expectations.
Final results will be certified by the independent Inspector of Elections and filed with the SEC via Form 8-K. J.P. Morgan Securities and Sidley Austin LLP are serving as financial advisor and legal counsel, respectively.
Barington Capital, owning 2.2% of Matthews International (MATW), urges shareholders to vote for their three nominees - Ana Amicarella, Chan Galbato, and James Mitarotonda - at tomorrow's Annual Meeting. The activist investor's push for board changes has received unanimous support from all three leading proxy advisory firms - ISS, Glass Lewis, and Egan-Jones.
Barington criticizes the current board for overseeing prolonged share price underperformance, poor capital allocation, and inadequate corporate governance. They particularly highlight CEO Joseph C. Bartolacci's 18-year tenure as destructive to shareholder value. The company's recent actions, including Gregory S. Babe's resignation, are viewed by Barington as reactive measures prompted by their nomination campaign.
Matthews International (MATW) urges shareholders to vote for its three director nominees - Terry L. Dunlap, Alvaro Garcia-Tunon, and J. Michael Nauman - on the WHITE proxy card, opposing Barington Capital's nominees. The company highlights recent strategic achievements, including:
- Sale of SGK Brands Solutions for $350 million plus 40% equity stake in new joint venture
- Letter of intent for remaining SGK Brand Solutions businesses for $50 million
- Favorable arbitration outcome against Tesla regarding dry battery electrode (DBE) solutions
- Appointment of Thomas Gebhardt, bringing 30+ years of Panasonic experience
- Board governance enhancements including declassification
GAMCO Asset Management, holding 4.38% stake, announced support for Matthews' nominees. The company emphasizes its long-term strategy and warns against Barington's short-term approach.
Barington Capital, owning 2.2% of Matthews International (NASDAQ: MATW), urges shareholders to vote 'FOR' their three nominees - Ana Amicarella, Chan Galbato, and James Mitarotonda - to the Board at the upcoming 2025 Annual Meeting on February 20.
Barington criticizes Matthews' recent governance changes as last-minute attempts to influence the election, noting these changes - including Board refreshment, declassification, and majority voting implementation - were only made in response to their proxy contest. They highlight that director Gregory S. Babe's resignation came only after their pressure.
The activist investor emphasizes that Matthews has experienced 18 years of underperformance and poor corporate governance, and argues that their nominees are necessary to ensure proper implementation of proposed changes and drive long-term value creation. Leading proxy advisory firms ISS, Glass Lewis, and Egan-Jones support Barington's nominees.
Barington Capital, owning 2.2% of Matthews International (NASDAQ: MATW), has urged shareholders to elect three new directors - Ana Amicarella, Chan Galbato, and James Mitarotonda - to the company's board at the 2025 Annual Meeting. The activist investor criticizes Matthews' governance and claims recent corporate changes, including governance improvements and the sale of SGK Brand Solutions division, are merely reactive measures to Barington's influence.
Barington's Chairman, James Mitarotonda, argues these actions demonstrate desperation rather than genuine commitment to long-term value creation. The firm believes its nominees, with their proven board effectiveness and relevant skills, can better serve shareholder interests and help maximize long-term value.
Matthews International (MATW) has appointed Thomas Gebhardt to its Board of Directors, following Gregory Babe's resignation. Gebhardt brings over 30 years of experience from Panasonic, where he served as Chairman and CEO of North American operations. Under his leadership, Panasonic transformed from a consumer electronics company to a provider of industrial and technology solutions.
Gebhardt's notable achievements include expanding Panasonic's Automotive business to $2.8 billion in revenue over five years and growing the battery business from millions to billions in revenue. He led Panasonic's partnership with Toyota and was involved in developing the Tesla Gigafactory in Reno. Most recently, he served as Interim CEO of Imprint Energy until its acquisition by CCL Industries in 2023.
Matthews International (NASDAQ: MATW) announced that a U.S. District Court Judge has denied Tesla's renewed attempt to block Matthews from selling its dry battery electrode (DBE) technology to global customers. This follows a February 6, 2025 arbitration ruling in Matthews' favor regarding the same matter. Tesla responded with two additional legal challenges in the Northern District of California within seven days.
On February 14, 2025, Judge Edward Davila rejected Tesla's request for a temporary restraining order. Tesla promptly filed another lawsuit, which Matthews describes as meritless and a bullying tactic. Matthews emphasizes that its DBE technology development began over 25 years ago, before Tesla's existence, leading to U.S. Patent No. 12,136,727. The technology streamlines lithium-ion battery production and reduces electric vehicle production costs.
Barington Capital, owning 2.2% of Matthews International (MATW), has issued a critical response to Matthews' recent corporate governance changes, calling them a desperate last-minute attempt to maintain status quo before the upcoming board election. Barington highlights that Matthews previously rejected their proposal to declassify the staggered board, and criticizes the retention of Greg Babe as director despite his involvement in a failed $3.1 million investment in Liquid X Printed Metals.
The activist investor also questions Matthews' timing in announcing a letter of intent to sell SGK Brand Solutions businesses without a definitive agreement. Barington urges shareholders to vote their GOLD proxy card for all of their nominees, arguing that only their independent candidates can enhance board accountability and maximize shareholder value.
Matthews International announced significant board refreshment and corporate governance changes. The company will transition to a new independent Board Chair by 2026, with current Chair Alvaro Garcia-Tunon retiring. The board plans to appoint a new independent director with expertise in batteries and EV technology, replacing Gregory S. Babe.
Key governance changes include: board declassification over three years, implementation of majority voting for director elections, and elimination of supermajority voting requirements for certain article amendments. These changes will be proposed at the 2026 Annual Meeting.
The company recently announced the sale of SGK Brand Solutions for $350 million plus 40% equity stake in a new joint venture, and has a letter of intent to sell remaining SGK operations for $50 million. Additionally, an arbitrator confirmed Matthews' right to sell its Dry Battery Electrode technology to customers beyond Tesla, opening opportunities in the EV market.
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