Matthews International Corporation Signs Definitive Agreement for the Purchase of a Majority Interest in Turkish Roto-Gravure Manufacturer for EUR 9.4M

Matthews International Corporation MATW today announced that the Company has signed a definitive agreement for the purchase of a majority ownership interest in Kroma Pre-Press Preparation Systems Industry & Trade, Inc.. The purchase price for Matthews to acquire an initial 70% ownership interest in Kroma will be approximately EUR9.4 million. In addition, the agreement includes put/call provisions for the purchase of the remaining 30% ownership interest within 3 years. Other terms of the acquisition were not immediately disclosed. The transaction is subject to government approval in Turkey. Kroma reported sales of approximately EUR11 million in calendar 2010.