Matthews International Closes Sale Of European Roto‑Gravure Packaging And Tooling Businesses For $41M

Matthews International Corporation (NASDAQ GSM: MATW) ("Matthews" or the "Company") today announced that the Company has closed on the sales of its European roto-gravure packaging and tooling businesses.  Total consideration to be received from these sales is $41 million, consisting of $22 million of cash, $12 million of assumed debt and pension liabilities, and seller financing of $7 million.  Cash proceeds of $18 million were received with the remaining cash amount of $4 million due within six months of the closing date.