Matthews sells SGK in $900M enterprise value JV; receives $350M upfront, 40% stake

MATTHEWS INTERNATIONAL CORP

Matthews sells SGK Brand Solutions to JV with SGS & Co, receiving $250M cash, $50M preferred equity, $50M retained receivables, and 40% common equity.
New entity has enterprise value ~$900M (9x trailing EBITDA); projected >$50M annual cost synergies over 30-month integration.
Cash proceeds to be used predominantly for debt repayment; transaction expected mid-2025 subject to regulatory approvals.
Gary Kohl (current SGK President) to be CEO of new entity; Matthew Gresge (SGS CEO) to be Executive Chairman.
Matthews retains German roto-gravure packaging business and other related investments from SGK segment.

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