Sends Letter to Matthews' Shareholders
Highlighting the Company's Poor Governance, Deeply Troubling Board
Culture and Desperate, Last-Ditch Effort to Placate Shareholders
Ahead of 2025 Annual Meeting
Believes Matthews' Proposed Governance
Improvements and Sale of SGK Brand Solutions Division Are a Direct
Response to Barington's Positive Influence and that Shareholders
Remain at Risk Without Barington's Nominees on the Board
Urges Matthews Shareholders to Vote
"FOR" the Election of ALL of Barington
Capital's Highly Qualified Nominees Whose Proven
Board Effectiveness, Relevant Skills and Backgrounds, and Fierce
Commitment to Shareholders Will Benefit ALL
Matthews Shareholders
NEW YORK,
Feb. 17,
2025 /PRNewswire/ -- Barington Capital Group,
L.P. ("Barington Capital"), a fundamental, value-oriented activist
investor that, together with the other participants in its
solicitation (collectively "Barington" or "we"), beneficially owns
approximately 2.2% of the outstanding shares of common stock of
Matthews International Corporation (NASDAQ: MATW) ("Matthews" or
the "Company"), today sent a letter to the Company's shareholders
urging them to elect Barington's highly qualified director nominees
– Ana B. Amicarella, Chan W. Galbato and James Mitarotonda – to the Matthews Board of
Directors (the "Board") to help restore good governance and drive
value creation at Matthews.
The full letter is available at
https://barington.com/matthews
James Mitarotonda,
Chairman and CEO of Barington Capital, said, "In these critical
final days leading up to Matthews' 2025 Annual Meeting of
Shareholders, it is clear to us that Matthews is only taking action
– including its recently announced corporate governance
improvements and sale of the SGK Brand Solutions division – out of
desperation rather than a genuine commitment to long-term value
creation. Indeed, we are convinced that these changes are a direct
result of Barington's positive influence, a last-minute attempt to
placate shareholders without addressing the deep systemic issues
plaguing the Company, and underscore why shareholders remain at
risk without Barington's nominees on the Board.
"We believe that shareholders of Matthews, both
large and small, deserve truly independent directors who will serve
as fierce advocates for them and ensure that governance and
operational decisions are made with their best interests in mind.
Barington has already driven meaningful change from outside the
boardroom in just a few months. Imagine how much more our three
highly qualified nominees could accomplish with a seat at the
table. We therefore strongly urge Matthews shareholders to vote
"FOR" the election of ALL of Barington's nominees,
whose proven board effectiveness, relevant skills and backgrounds,
and shareholder-focused mindset will help to improve the Company's
governance, reestablish its credibility in the marketplace and
maximize long-term shareholder value."
TIME IS RUNNING OUT: PROTECT THE VALUE OF YOUR
INVESTMENT AND VOTE "FOR" ALL OF BARINGTON'S NOMINEES TODAY
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
Important Information and Participants in the
Solicitation
Barington has filed a definitive proxy statement
and associated GOLD proxy card with the Securities and
Exchange Commission ("SEC") to be used to solicit votes for the
election of its slate of highly qualified director nominees at the
upcoming annual meeting of stockholders of the Company. Details
regarding the Barington nominees and the participants in its
solicitation are included in its proxy statement and Barington
strongly advises all shareholders of the company to read the proxy
statement and other proxy materials as they contain important
information.
The participants in Barington's proxy
solicitation are Barington, Barington Companies Investors, LLC,
Barington Capital Group, L.P., LNA Capital Corp., James Mitarotonda, 1 NBL EH, LLC, Joseph Gromek, Ana B.
Amicarella and Chan W.
Galbato.
If you have any questions, require assistance in
voting your GOLD universal proxy card,
or need additional copies of Barington's proxy materials, please
contact:
Okapi Partners
1212 Avenue of the Americas, 17th Floor
New York, NY 10036
Banks and Brokerage Firms, Please Call: (212)
297-0720
Shareholders and All Others Call Toll-Free: (877) 285-5990
E-mail: info@okapipartners.com
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SOURCE Barington Capital Group, L.P.
