Matthews International Corporation announced the successful closing of the sale of its Warehouse Automation business to Duravant, LLC, receiving $232.1 million in total consideration.
The proceeds from the transaction will be used to significantly reduce outstanding debt.
Matthews' strategic review remains ongoing to enhance shareholder value creation.
Total Consideration
Received $232.1 million in total consideration for the Warehouse Automation sale.
Debt Reduction
Transaction proceeds will be used to reduce outstanding debt.
Strategic Review
Ongoing review to enhance shareholder value creation.
- The sale of the Warehouse Automation business reflects Matthews' commitment to unlocking shareholder value and reducing debt.
- The total purchase price represents a compelling valuation multiple that is significantly accretive to Matthews' current trading range.
Matthews International Corporation's sale of the Warehouse Automation business signifies a strategic move to improve financial position and shareholder value. The ongoing strategic review aims to further enhance the company's market position and operational efficiency.