Matthews International Corporation (NASDAQ GSM: MATW) released its investor presentation, highlighting its commitment to shareholder value creation and urging shareholders to vote for all three of Matthews’ director nominees on the white proxy card and withhold on Barington’s director nominees. The presentation reveals key highlights that shed light on the company's performance and strategic direction.
Under the leadership of CEO Joe Bartolacci, Matthews has strategically diversified its portfolio into promising new markets and built a global platform positioned to win across brands, solutions, and markets. Notably, the company has returned approximately $490 million of capital to shareholders in dividends and share repurchases since 2014, while strategically investing in capital expenditures and inorganic growth of the businesses.
Moreover, the company has initiated a cost reduction program targeting annual consolidated savings of up to $50 million and has been actively pursuing strategic alternatives for all of its businesses, including the agreement to sell SGK Brand Solutions. The SGK transaction is expected to provide substantial upfront consideration of $350 million at closing, reflecting the strategic investments in technology and cost-savings initiatives executed by the leadership team over recent years.
In terms of governance, Matthews has welcomed three new independent directors since 2020 and nominated a fourth new independent director for election at the 2025 annual meeting. The board collectively owns approximately 3.3% of the company’s shares, demonstrating strong alignment with shareholder interests and confidence in the company’s strategic direction.
On the other hand, Barington's nominees have been criticized for lacking understanding of Matthews' businesses, irrelevant skills, and questionable M&A oversight records. The company emphasizes that Barington has presented no new ideas and has indicated a level of short-term thinking that would destroy shareholder value.
Matthews International Corporation operates in three segments: memorialization products, industrial technologies, and brand solutions. The memorialization segment provides products such as memorials, caskets, cremation-related products, and cremation and incineration equipment. The industrial technologies segment includes high-tech custom energy storage solutions, product identification and warehouse automation technologies, and coating and converting lines for various industries. The SGK brand solutions segment offers packaging solutions and brand experiences.
The company has over 11,000 employees in more than 30 countries on six continents and remains committed to delivering the highest quality products and services.
As the company approaches its annual meeting, shareholders are encouraged to read the definitive proxy statement and other relevant documents filed with the U.S. Securities and Exchange Commission (SEC) for important information. The company also emphasizes the importance of voting for all three of Matthews’ nominees on the white proxy card and withholding on Barington’s director nominees.
As a result of these announcements, the company's shares have moved 0.3% on the market, and are now trading at a price of $29.05. Check out the company's full 8-K submission here.
