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Stockreport

Matthews International Announces Acquisition of Star Granite & Bronze

MATTHEWS INTL (MATW)  More Company Research Source: GlobeNewswire
Last matthews intl earnings: 4/26 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: matw.com/investor
PDF PITTSBURGH, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ:MATW) (“Matthews” or the “Company”) today announced that the Company has acquired Star Granite & Bronze, based in Elberton, Georgia, for $41.2 million, subject to a working capital adjustment and potential contingent consideration adjustment based on future performance. Star, a family-owned business, is a well-respected manufacturer and distributor of granite and other memorialization products to cemeteries and other customers across the United States. In the year ended December 31, 2017, Star’s revenues were approximately $31.3 million and the company has approximately 200 employees. Matthews plans to integrate Star within its Matthews Cemetery Products business, part of its Memorialization Segment, a leading total solutions provider to the funeral and cemetery industries. Matthews and Star share established traditions of providing customers with the highest quality products and superior custo [Read more]

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