10:01 AM EST, 11/13/2025 (MT Newswires) -- Matthews International ( MATW ) said Thursday it signed a definitive agreement for the sale of its Warehouse Automation business to automation firm Duravant for a total consideration of $230 million.

The amount represents cash consideration of $223.3 million and the assumption of certain liabilities of the business, Matthews said.

The proceeds from the transaction will be mainly used to reduce outstanding debt, the company said.

Matthews said it expects the transaction to close before the end of its fiscal Q2 in 2026.

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