Pittsburgh-based Matthews International Corp. has closed on the sales of its European roto-gravure packaging and tooling businesses for a deal valued at $41 million, consisting of $22 million in cash, $12 million in assumed debt and pension liabilities, and seller financing of $7 million.
“The sale of these businesses is another step toward a more streamlined business structure and our commitment to unlocking the value of our company in addition to further debt reduction,” Matthews International President and Chief Executive Officer Joseph Bartolacci said Jan. 7.
Cash proceeds of $18 million were received with the remaining cash amount of $4 million due within six months of the closing date, according to the company.
“Adjusted EBITDA for these businesses was approximately break-even for each of the past two fiscal years on sales approximating $100 million for each year,” added Bartolacci. “All cash proceeds will be immediately applied to debt reduction upon receipt.”
Matthews International sold its European businesses in early January to an undisclosed buyer in a move to streamline operations, following the earlier sale of its European warehouse automation business to Duravant LLC for $232.1 million, a deal completed in late December 2025.