Barington Capital Group Statement on Matthews International's Sale of SGK Brand Solutions
Barington Capital Group, owning approximately 1.9% of Matthews International (NASDAQ: MATW), has issued a statement regarding Matthews' planned sale of its SGK Brand Solutions segment. The activist investor highlighted that since 2022, they have been advocating for Matthews to simplify its portfolio, specifically proposing the sale of SGK, which has resulted in a write-down of more than $266.2 million under Matthews' ownership.
While Barington welcomes the sale decision, they note it came only after their calls for changes to Matthews' management and Board of Directors. The investor believes this transaction demonstrates available value-creating opportunities and emphasizes the importance of having Barington's nominees on Matthews' Board to bring fresh perspectives and expertise in finance, corporate strategy, and turnaround management.
Barington Capital Group, che detiene circa l'1,9% di Matthews International (NASDAQ: MATW), ha rilasciato una dichiarazione riguardante la prevista vendita del segmento SGK Brand Solutions da parte di Matthews. L'investitore attivista ha sottolineato che dal 2022 stanno facendo pressioni affinché Matthews semplifichi il proprio portafoglio, proponendo in particolare la vendita di SGK, che ha portato a una svalutazione di oltre $266,2 milioni sotto la proprietà di Matthews.
Sebbene Barington accolga con favore la decisione di vendita, osservano che questa è arrivata solo dopo le loro richieste di cambiamento nella gestione e nel Consiglio di Amministrazione di Matthews. L'investitore crede che questa transazione dimostri le opportunità di creazione di valore disponibili e sottolinea l'importanza di avere i candidati di Barington nel Consiglio di Amministrazione di Matthews per portare nuove prospettive e competenze in finanza, strategia aziendale e gestione del turnaround.
Barington Capital Group, que posee aproximadamente el 1.9% de Matthews International (NASDAQ: MATW), ha emitido una declaración sobre la venta planificada del segmento SGK Brand Solutions por parte de Matthews. El inversor activista destacó que desde 2022 han estado abogando por que Matthews simplifique su cartera, proponiendo específicamente la venta de SGK, lo que resultó en una depreciación de más de $266.2 millones bajo la propiedad de Matthews.
Si bien Barington da la bienvenida a la decisión de venta, señala que esta llegó solo después de sus llamados a un cambio en la dirección y en la Junta Directiva de Matthews. El inversor cree que esta transacción demuestra las oportunidades disponibles para crear valor y enfatiza la importancia de tener a los nominados de Barington en la Junta de Matthews para aportar nuevas perspectivas y experiencia en finanzas, estrategia corporativa y gestión de reestructuración.
버링턴 캐피탈 그룹은 매튜스 인터내셔널(NASDAQ: MATW)의 약 1.9%를 소유하고 있으며, 매튜스의 SGK 브랜드 솔루션 부문의 예정 매각에 대한 성명을 발표했습니다. 이 행동주의 투자자는 2022년부터 매튜스가 포트폴리오를 단순화할 것을 주장하며 SGK 매각을 제안했으며, 이는 매튜스 소유 아래에서 $266.2백만 이상의 자산 손실을 초래했습니다.
버링턴은 매각 결정을 환영하지만, 이 결정이 매튜스의 경영진과 이사회에 대한 변경 요구 이후에야 이루어졌음을 지적합니다. 투자자는 이 거래가 가치를 창출할 수 있는 기회를 보여주며, 매튜스 이사회에 버링턴의 지명 후보들이 필요하다는 점을 강조하여 금융, 기업 전략 및 경영 회복 관리에서 새로운 관점을 제공할 수 있다고 믿고 있습니다.
Barington Capital Group, détenant environ 1,9 % de Matthews International (NASDAQ : MATW), a publié une déclaration concernant la vente prévue du segment SGK Brand Solutions par Matthews. L'investisseur activiste a souligné que depuis 2022, il plaide pour que Matthews simplifie son portefeuille, en proposant spécifiquement la vente de SGK, ce qui a entraîné une dépréciation de plus de $266,2 millions sous la propriété de Matthews.
Bien que Barington se réjouisse de la décision de vente, il note que celle-ci n'est intervenue qu'après leurs appels à des changements dans la direction et le conseil d'administration de Matthews. L'investisseur estime que cette transaction démontre des opportunités de création de valeur disponibles et souligne l'importance d'avoir les candidats de Barington au conseil d'administration de Matthews pour apporter de nouvelles perspectives et une expertise en finance, stratégie d'entreprise et gestion de restructuration.
Barington Capital Group, das etwa 1,9% von Matthews International (NASDAQ: MATW) besitzt, hat eine Erklärung zur geplanten Veräußerung des Segments SGK Brand Solutions durch Matthews abgegeben. Der aktivistische Investor hob hervor, dass sie seit 2022 dafür eintreten, dass Matthews sein Portfolio vereinfacht, und insbesondere den Verkauf von SGK vorschlagen, was zu einer Abschreibung von mehr als $266,2 Millionen unter der Eigentümerschaft von Matthews geführt hat.
Während Barington die Verkaufsentscheidung begrüßt, weisen sie darauf hin, dass diese nur nach ihren Forderungen nach Veränderungen im Management und im Vorstand von Matthews getroffen wurde. Der Investor ist der Ansicht, dass diese Transaktion verfügbare wertschaffende Möglichkeiten zeigt und betont die Bedeutung, die Nominierten von Barington im Vorstand von Matthews zu haben, um frische Perspektiven und Fachwissen in Finanzen, Unternehmensstrategie und Turnaround-Management einzubringen.
- Planned sale of underperforming SGK Brand Solutions division
- Strategic portfolio simplification initiative
- Potential for improved company focus and operational efficiency
- $266.2 million write-down on SGK Brand Solutions segment
- Poor historical performance of SGK division
Insights
The sale of SGK Brand Solutions represents a pivotal strategic shift for Matthews International, addressing a significant drag on the company's performance. The
What's particularly noteworthy is the timing and context of this decision. With Barington Capital holding a
For retail investors, this development signals a potential inflection point in Matthews' corporate strategy. The removal of a struggling business unit could lead to improved financial metrics, better capital allocation and a more focused operational approach. However, the key variables to watch will be the transaction terms, use of proceeds and the company's go-forward strategy in its remaining business segments.
This situation exemplifies classic activist investor dynamics and their impact on corporate decision-making. Barington's influence, despite holding a relatively modest
The ongoing proxy contest adds another layer of complexity to this corporate action. Barington's push for board representation and the subsequent announcement of the SGK sale suggests a reactive board that may have been slow to recognize necessary strategic changes. This raises legitimate questions about board effectiveness and highlights the potential value of fresh perspectives in corporate governance.
"Since 2022, Barington has urged Matthews to simplify its portfolio. Indeed, Barington has repeatedly proposed the sale of the Company's SGK segment, a poorly performing business that has resulted in a write down of more than
"We believe the SGK transaction not only highlights one of the many value-creating opportunities available to Matthews' shareholders, but also the importance of having Barington's nominees on the Matthews Board. We believe our nominees, if elected, will bring the fresh perspectives, as well as the financial, corporate strategy and turnaround expertise, that Matthews requires to maximize shareholder value."
For additional information regarding Barington's campaign at Matthews, visit: https://barington.com/matthews
ABOUT BARINGTON CAPITAL GROUP, L.P.
Barington Capital Group, L.P. is a fundamental, value-oriented activist investment firm established by James Mitarotonda in January 2000. Barington invests in undervalued publicly traded companies that Barington believes can appreciate significantly in value when substantive improvements are made to their operations, corporate strategy, capital allocation and corporate governance. Barington's investment team, advisors and network of industry experts draw upon their extensive strategic, operating and boardroom experience to assist companies in designing and implementing initiatives to improve long-term shareholder value.
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SOURCE Barington Capital Group, L.P.
FAQ
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