{"id":76244,"date":"2026-01-02T15:52:06","date_gmt":"2026-01-02T15:52:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/76244\/"},"modified":"2026-01-02T15:52:06","modified_gmt":"2026-01-02T15:52:06","slug":"matthews-international-completes-232m-sale-of-warehouse-automation-unit-wpxi","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/76244\/","title":{"rendered":"Matthews International completes $232M sale of warehouse automation unit \u2013 WPXI"},"content":{"rendered":"<p class=\"default__StyledText-sc-tl066j-0 gJuxXh body-paragraph\">Matthews International Corp. has completed the sale of its warehouse automation business to Duravant LLC for $232.1 million.<\/p>\n<p class=\"default__StyledText-sc-tl066j-0 gJuxXh body-paragraph\">The Pittsburgh-based manufacturer, which is in the midst of a strategic review, said Matthews received $225.4 million in cash, plus the assumption of some of the warehouse automation business liabilities. The sale closed December 31, according to an announcement from Matthews.<\/p>\n<p class=\"default__StyledText-sc-tl066j-0 gJuxXh body-paragraph\">\u201cThis transaction is a direct outcome of the strategic alternatives evaluation, reflecting our commitment to unlocking shareholder value and further reducing our debt toward our long-term net leverage ratio goal of 2.5x,\u201d said Matthews International President\/CEO Joseph C. Bartolacci in a prepared statement. \u201cThe total purchase price represents a compelling valuation multiple that is significantly accretive to Matthews\u2019 current trading range. Following this announcement, the company\u2019s strategic alternatives review to enhance shareholder value creation remains ongoing.\u201d<\/p>\n<p class=\"default__StyledText-sc-tl066j-0 gJuxXh body-paragraph\"><a href=\"https:\/\/www.bizjournals.com\/pittsburgh\/news\/2025\/12\/31\/matthews-international-sells-automation-unit.html?ana=wpxi\" target=\"_blank\" rel=\"noreferrer nofollow noopener\" title=\"https:\/\/www.bizjournals.com\/pittsburgh\/news\/2025\/12\/31\/matthews-international-sells-automation-unit.html?ana=wpxi\">Click here to read more from our partners at the Pittsburgh Business Times.<\/a><\/p>\n<p class=\"default__StyledText-sc-tl066j-0 gJuxXh body-paragraph\">Download the <a href=\"https:\/\/www.wpxi.com\/mobile-apps\/\" rel=\"nofollow noopener\" target=\"_blank\">FREE WPXI News app<\/a> for breaking news alerts.<\/p>\n<p class=\"default__StyledText-sc-tl066j-0 gJuxXh body-paragraph\">Follow Channel 11 News on <a href=\"https:\/\/www.facebook.com\/wpxi\" rel=\"nofollow noopener\" target=\"_blank\">Facebook<\/a> and <a href=\"https:\/\/twitter.com\/WPXI\" rel=\"nofollow noopener\" target=\"_blank\">Twitter<\/a>. | <a href=\"https:\/\/www.wpxi.com\/video\/\" rel=\"nofollow noopener\" target=\"_blank\">Watch WPXI NOW<\/a><\/p>\n<p>TOP STORIES FROM CHANNEL 11 NEWS <\/p>\n<p class=\"default__StyledText-sc-tl066j-0 gJuxXh body-paragraph body-copyright\">\u00a92026 Cox Media Group<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"Matthews International Corp. has completed the sale of its warehouse automation business to Duravant LLC for $232.1 million.&hellip;\n","protected":false},"author":2,"featured_media":76245,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[39242,37253,60,1707,7156,1126,39243,39245,39244,39241,73,75,74,39240,5376,5689,11835,20354],"class_list":["post-76244","post","type-post","status-publish","format-standard","has-post-thumbnail","category-pittsburgh","tag-automation","tag-based","tag-business","tag-cash","tag-close","tag-company","tag-complete","tag-duravant-llc","tag-manufacturer","tag-matthews-international","tag-pittsburgh","tag-pittsburgh-headlines","tag-pittsburgh-news","tag-review","tag-sale","tag-sell","tag-unit","tag-warehouse"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/76244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=76244"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/76244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/76245"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=76244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=76244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=76244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}