NEW
YORK, Jan. 8, 2025 /PRNewswire/ -- Barington
Capital Group, L.P. ("Barington Capital") and certain of its
affiliates (collectively "Barington" or "we"), a fundamental,
value-oriented activist investor that beneficially owns
approximately 1.9% of the outstanding common stock of Matthews
International Corporation (NASDAQ: MATW) ("Matthews" or the
"Company"), today issued the following statement in response to
Matthews' planned sale of SGK Brand Solutions ("SGK"):
"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 $266.2
million under the Company's ownership. While we are pleased
that the Company is taking this step today, it is unfortunate that
it occurred only after Barington called for changes to Matthews'
management and Board of Directors.
"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.
Media Contact:
Jonathan Gasthalter/Amanda Shpiner
Gasthalter & Co.
212-257-4170
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SOURCE Barington Capital Group, L.P.