Matthews International Corporation Announces Clearance of Remaining Foreign Anti-Trust Regulatory Requirements
Matthews International (MATW) has received clearance for all remaining foreign anti-trust and competition authority regulatory requirements regarding the proposed sale of its SGK Brand Solutions division to a new entity formed by SGS & Co affiliates. This follows the February 2025 expiration of the Hart-Scott-Rodino Antitrust waiting period.
The transaction is expected to close before the end of the current fiscal quarter, subject to customary closing conditions. The company plans to use the cash proceeds primarily for debt reduction, with a portion now allocated for stock repurchases given the recent stock value.
Matthews International (MATW) ha ottenuto l'approvazione da tutte le autorità antitrust e di regolamentazione della concorrenza estere rimaste riguardo alla proposta vendita della sua divisione SGK Brand Solutions a una nuova entità costituita da affiliati di SGS & Co. Ciò avviene dopo la scadenza del periodo di attesa antitrust Hart-Scott-Rodino avvenuta a febbraio 2025.
La transazione dovrebbe concludersi entro la fine dell'attuale trimestre fiscale, subordinata alle consuete condizioni di chiusura. L'azienda prevede di utilizzare principalmente i proventi in contanti per la riduzione del debito, destinando una parte anche al riacquisto di azioni in considerazione del recente valore delle stesse.
Matthews International (MATW) ha recibido la aprobación de todas las autoridades extranjeras antimonopolio y de competencia restantes respecto a la propuesta venta de su división SGK Brand Solutions a una nueva entidad formada por afiliados de SGS & Co. Esto sigue a la expiración en febrero de 2025 del período de espera antimonopolio Hart-Scott-Rodino.
Se espera que la transacción se cierre antes del final del trimestre fiscal actual, sujeta a las condiciones habituales de cierre. La empresa planea utilizar principalmente los ingresos en efectivo para la reducción de deuda, destinando una parte al recompra de acciones debido al valor reciente de las mismas.
Matthews International (MATW)는 SGS & Co 계열사들이 새로 설립한 법인에 SGK Brand Solutions 부문을 매각하는 것과 관련하여 남아 있던 모든 해외 반독점 및 경쟁 당국의 규제 승인을 받았습니다. 이는 2025년 2월에 종료된 Hart-Scott-Rodino 반독점 대기 기간 이후의 조치입니다.
이 거래는 통상적인 종결 조건을 충족하는 것을 전제로 현재 회계 분기 말 이전에 마무리될 예정입니다. 회사는 현금 수익금을 주로 부채 상환에 사용할 계획이며, 최근 주가를 고려하여 일부는 자사주 매입에 배정했습니다.
Matthews International (MATW) a obtenu l'approbation de toutes les autorités étrangères antitrust et de la concurrence restantes concernant la vente proposée de sa division SGK Brand Solutions à une nouvelle entité formée par des affiliés de SGS & Co. Cela fait suite à l'expiration en février 2025 de la période d'attente antitrust Hart-Scott-Rodino.
La transaction devrait être finalisée avant la fin du trimestre fiscal en cours, sous réserve des conditions habituelles de clôture. La société prévoit d'utiliser principalement les liquidités issues de la vente pour la réduction de la dette, avec une partie désormais allouée au rachat d'actions compte tenu de la valeur récente des titres.
Matthews International (MATW) hat die Freigabe aller verbleibenden ausländischen kartell- und wettbewerbsrechtlichen Genehmigungen für den geplanten Verkauf seiner SGK Brand Solutions-Sparte an eine neue Einheit erhalten, die von SGS & Co-Tochtergesellschaften gebildet wurde. Dies erfolgt nach Ablauf der Hart-Scott-Rodino-Kartellwartefrist im Februar 2025.
Die Transaktion soll bis zum Ende des laufenden Geschäftsjahresquartals abgeschlossen werden, vorbehaltlich der üblichen Abschlussbedingungen. Das Unternehmen plant, die Barmittel hauptsächlich zur Schuldenreduzierung zu verwenden, wobei ein Teil aufgrund des jüngsten Aktienkurses für Aktienrückkäufe vorgesehen ist.
- Regulatory clearance received for SGK Brand Solutions sale, enabling near-term transaction completion
- Strategic debt reduction planned from sale proceeds
- Implementation of stock buyback program announced
- Current stock value trading at levels warranting buyback consideration
PITTSBURGH, April 15, 2025 (GLOBE NEWSWIRE) -- Matthews International Incorporation ("Matthews" and/or the "Company") previously reported, in February 2025, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the proposed sale of its interest in SGK Brand Solutions (“SGK”) to a newly formed entity created by affiliates of SGS & Co (“SGS”), which will combine SGK and SGS. Today, the Company has announced the clearance of all remaining foreign anti-trust and competition authority regulatory requirements. As a result, the parties anticipate closing before the end of the current fiscal quarter, subject to the satisfaction of other customary closing conditions.
Mr. Bartolacci, President and Chief Executive Officer of Matthews, stated: “We look forward to closing the transaction and beginning to realize the significant opportunities through the combination of these businesses. As previously indicated, the Company intends to apply the cash proceeds received upon closing primarily for debt reduction purposes. However, given the recent value of the Company’s common stock, we also now expect to utilize a portion of the proceeds for stock repurchases.”
About Matthews International
Matthews International Corporation is a global provider of memorialization products, industrial technologies, and brand solutions. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets, cremation-related products, and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Industrial Technologies segment includes the design, manufacturing, service and sales of high-tech custom energy storage solutions; product identification and warehouse automation technologies and solutions, including order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products; and coating and converting lines for the packaging, pharma, foil, décor and tissue industries. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has over 11,000 employees in more than 30 countries on six continents that are committed to delivering the highest quality products and services.
Forward Looking Statements
Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, including statements regarding the anticipated timing and benefits of the proposed joint venture transaction, and may be identified by the use of words such as “expects,” “believes,” “intends,” “projects,” “anticipates,” “estimates,” “plans,” “seeks,” “forecasts,” “predicts,” “objective,” “targets,” “potential,” “outlook,” “may,” “will,” “could” or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company’s results to differ materially from the results discussed in such forward-looking statements principally include our ability to satisfy the conditions precedent to the consummation of the proposed joint venture transaction on the expected timeline or at all, our ability to achieve the anticipated benefits of the proposed joint venture transaction, changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company’s products, including changes in costs due to adjustments to tariffs, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company’s operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company’s acquisitions, divestitures, and business combinations, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company’s internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company’s control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, the Company’s plans and expectations with respect to its exploration, and contemplated execution, of various strategies with respect to its portfolio of businesses, the Company’s plans and expectations with respect to its Board, and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.
Matthews International Corporation
Corporate Office
Two NorthShore Center
Pittsburgh, PA 15212-5851
Phone: (412) 442-8200
| April 15, 2025 | Contact: | Steven F. Nicola | |
| Chief Financial Officer | |||
FAQ
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