Matthews International Expands Portfolio with Dodge Acquisition
Matthews International Welcomes The Dodge Company
Recently, Matthews International Corporation (NASDAQ: MATW) made headlines with its strategic acquisition of The Dodge Company for $57 million. This acquisition significantly strengthens Matthews' position in the funeral service sector. The Dodge Company is known as a premier supplier of embalming chemicals and related products in North America, serving the needs of numerous funeral homes across the region.
Strategic Goals in the Death Care Sector
Matthews Memorialization, a key division of Matthews International, is dedicated to delivering various products to both funeral homes and cemeteries. This acquisition aligns with their long-term strategy of enhancing their comprehensive product portfolio aimed at the death care industry. By integrating Dodge's offerings into their operations, Matthews aims to provide a more robust service to its customers.
A Seamless Transition for Customers
Upon announcing the acquisition, Steve Gackenbach, President of Matthews Memorialization, expressed enthusiasm about welcoming Dodge into the Matthews family. He emphasized the goal of ensuring continuity for existing Dodge customers, assuring them that they will still receive the same high-quality products from familiar sales and service representatives. The integration of Dodge into Matthews International is seen as a way to maintain the exceptional customer relationships established over the years.
Continuity and Commitment
Debbie and Kristie Dodge, representing their family’s long-standing business, shared their comfort with the decision. They believe that Matthews will honor the legacy and service standards that The Dodge Company has upheld for 132 years. Matthews intends to leverage this rich heritage while providing innovative solutions to the funeral service industry.
The Dodge Company: An Overview
The Dodge Company has a distinguished history dating back to 1893, focusing on supporting embalmers and funeral directors with top-notch service and products. As North America’s largest supplier of embalming chemicals and related products, Dodge has built a solid reputation for quality and customer service. By partnering with Matthews International, Dodge is poised to enhance its reach and operational capabilities, further benefiting funeral service providers.
About Matthews International Corporation
Matthews International Corporation operates across two main business segments: Industrial Technologies and Memorialization. Each segment is focused on achieving operational efficiency and sustainable growth through innovation and strategic expansions. In the Industrial Technologies sector, Matthews has become a global innovator in marking solutions, empowering various industries through technological advancements. Meanwhile, the Memorialization segment provides comprehensive memorial products, aiding families in their journeys from mourning to remembrance.
Global Presence and Commitment to Quality
With over 5,400 employees spanning 19 countries, Matthews International takes pride in its dedication to quality and service across all its operations. This global reach is key to achieving their vision of transforming industries and enhancing the customer experience within the memorialization space.
Looking Ahead
As Matthews International integrates The Dodge Company into its operations, the focus remains on strengthening customer relationships and uplifting service standards. Quality assurance will continue to be a priority, along with embracing innovation to stay ahead in the competitive landscape of the death care industry.
Frequently Asked Questions
What prompted Matthews International to acquire The Dodge Company?
The acquisition aims to enhance Matthews' product offerings in the death care sector, allowing for a more comprehensive service to funeral homes.
How will this acquisition affect Dodge customers?
Dodge customers can expect continuity, as the same sales representatives will continue to provide service and support under Matthews International.
What is the significance of Dodge's history?
Dodge has been a trusted supplier in the embalming industry since 1893, and this acquisition allows Matthews to build on its well-established legacy.
What are the main business segments of Matthews International?
Matthews operates through Industrial Technologies and Memorialization, focusing on operational efficiency and customer service.
Who can Dodge customers contact with inquiries post-acquisition?
Dodge customers should reach out to their usual sales representatives for any questions regarding the acquisition or their orders.
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