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DOWNERS GROVE, Ill. - Duravant LLC announced Thursday it has entered into a definitive agreement to acquire Matthews Automation Solutions from Matthews International Corporation (NASDAQ:MATW). The deal comes as Matthews International trades at $25.29, up 7.2% from its previous close, though the company has struggled with profitability, posting a negative $2.10 diluted EPS over the last twelve months according to InvestingPro data.
Matthews Automation Solutions provides warehouse execution and control system software, controls, and integration services through its Pyramid, Compass, Nexus, and Lightning Pick brands. The business will join Duravant's Material Handling operating group.
The acquisition will enhance Duravant's capabilities in the material handling sector, adding warehouse execution system technologies to complement its existing portfolio that includes FMH Conveyors, NPI, QC Conveyors, and Motion06.
"There is increasing demand and urgency from our customers to design warehouse systems that meet their ever-increasing productivity needs," said Raman Joshi, Group President of Duravant Material Handling, in the press release.
Matthews Automation Solutions operates from facilities in Cincinnati, Ohio and Pewaukee, Wisconsin. The acquisition is expected to strengthen Duravant's offerings to clients in ecommerce, retail, parcel, and logistics sectors.
The transaction is subject to customary regulatory approvals and is expected to close before March 31, 2026.
Duravant, headquartered in Downers Grove, Illinois, provides automation solutions across food processing, packaging, and material handling industries, serving customers in more than 190 countries. For investors seeking deeper insights into Matthews International's financial health and prospects, InvestingPro offers comprehensive Pro Research Reports with expert analysis on what really matters for this and 1,400+ other top stocks.
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