Matthews International Enters Into Agreement With Barington

PITTSBURGH, Dec. 30, 2022 (GLOBE NEWSWIRE) -- Matthews International Corporation (“Matthews”) (NASDAQ GSM: MATW) today announced that it has entered into an agreement with Barington Capital Group, L.P., Barington Companies Equity Partners, L.P., and Barington Companies Management, LLC (collectively, “Barington”), pursuant to which Barington Companies Management, LLC will serve as a consultant to Matthews. Under the agreement, Barington has also agreed to vote all of its shares in favor of Matthews’ nominees at the 2023 Annual Shareholders’ Meeting.

Joseph C. Bartolacci, President and Chief Executive Officer, stated: “We have appreciated our discussions over the past year with Barington and their insights as a shareholder of Matthews. We look forward to their contributions as a consultant toward the Company’s continued growth.”

James A. Mitarotonda, Chief Executive Officer of Barington, commented: “We look forward to working constructively with the Board and Management to build value for the company and its shareholders.”

About Matthews International Corporation

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 designs, manufactures, services and distributes high-tech custom energy storage solutions, product identification, and warehouse automation technologies and solutions. 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 approximately 12,000 employees in more than 30 countries on six continents that are committed to delivering the highest quality products and services.

About Barington Capital Group, L.P.

Barington Capital Group, L.P. is a fundamental, value-oriented activist investment firm that was established by James A. Mitarotonda in January 2000. Barington invests in undervalued publicly traded companies that Barington believes can appreciate significantly in value as a result of a change in corporate strategy or improvements in operations, capital allocation or 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. Barington has significant experience investing in companies across many industries.