Highlights Matthews' Longstanding Culture of
Deceit Most Recently Evidenced by its Meandering and
Misguided 68-page Presentation
Believes Matthews' Status Quo is Untenable and
the Election of Ana
Amicarella, Chan Galbato and
James Mitarotonda is Required to
Drive Much-Needed Change and Long-Term Value Creation
Urges Shareholders to Vote the
GOLD Proxy Card
"FOR" the Election of ALL
of Barington Capital's Nominees
NEW
YORK, Jan. 30, 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 1.9% 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 highlighting the excuses, half-truths
and lofty promises Matthews recently published in a meandering and
blatantly misguided 68-page investor presentation.
The letter also details what Matthews shareholders stand to
endure if the Company maintains the status quo and why Barington
believes the election of Ana
Amicarella, Chan Galbato and
James Mitarotonda to the Matthews
Board of Directors (the "Board") is critical to unlock the
Company's full value potential.
The full letter is available at
https://barington.com/matthews
James Mitarotonda, Chairman and
CEO of Barington Capital, said, "We believe shareholders deserve to
know the facts about Matthews' performance and leadership as well
as the rationale for Barington's campaign for change. Simply put,
the Company has failed to take any action over the last 18 years to
simplify its portfolio, conduct a strategic review, reduce costs or
indebtedness, or address Board independence. We find it deeply
troubling that the Company would seek to obfuscate these facts
rather than take accountability.
"Only after Barington notified Matthews of its intention to
launch a proxy contest did the Company seemingly begin to take
action, which we believe to be a desperate attempt to maintain the
status quo and further entrench the Board. Facts don't lie. We
encourage all shareholders to protect their investment in Matthews
by electing Ana Amicarella,
Chan Galbato and James Mitarotonda to the Board by voting the
GOLD proxy card today."
FACTS DON'T LIE. FOLLOW THE FACTS AND
VOTE GOLD 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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content:https://www.prnewswire.com/news-releases/facts-dont-lie-barington-capital-sends-letter-to-matthews-international-shareholders-debunking-the-companys-false-narratives-and-reinforcing-its-case-for-change-302364378.html
SOURCE Barington Capital Group, L.P.
