This Slide: #36 of 37 |
Slide #36. Matthews International Corporation — Wetzel Group
Acquirer:
Matthews International Corporation (NASDAQ:MATW)
Acquiree:
Wetzel Group
Details:
Matthews International Corporation announced that the Company has signed a definitive agreement for the purchase of Wetzel Holding AG, Wetzel GmbH and certain related affiliates (collectively "Wetzel"). Wetzel is a leading European provider of pre-press services and gravure printing forms. Wetzel is headquartered in Muenchenstein/BL, Switzerland and has its principal manufacturing operations in Germany and Poland. Its products and services are sold primarily within Europe. The acquisition is designed to expand Matthews' products and services in the global graphics imaging market. The purchase price for Wetzel will be 42.5 million (U.S.$55 million) on a cash-free, debt-free basis, plus potential additional consideration based on operating results. Other terms of the acquisition were not immediately disclosed. Wetzel reported sales of 44.4 million (U.S.$58 million) in fiscal 2011 and has approximately 400 employees.
Matthews International is a global provider of memorialization products, industrial technologies and brand solutions. Co. manages its business under three reporting segments, Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment manufactures and markets a line of memorialization products used primarily in cemeteries, funeral homes and crematories. The Industrial Technologies segment includes the design, manufacturing, service and distribution of custom energy storage solutions, product identification and warehouse automation technologies and solutions. The SGK Brand Solutions segment provides packaging and brand experience solutions.
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