Matthews Buys the Dodge Company for $57M — A Big Shift for the Funeral Profession

Matthews Memorialization (a division of Matthews International, NASDAQ: MATW) just acquired The Dodge Company for $57 million. This is a serious move that brings two legacy names under one roof — and it changes the landscape for funeral professionals.

Two Legacy Brands. One Strategy.

Dodge has been a staple in the prep room since 1893. Embalming chemicals, cosmetics, and supplies — they’ve built a name on consistency and quality. If you’ve ever worked a prep table, you know Dodge.

Matthews Memorialization is already one of the profession’s most comprehensive suppliers — caskets, cremation equipment, bronze and granite memorials, and more. This acquisition is about tightening their grip on full-service delivery to funeral homes and cemeteries.

“Our strategy is to be the one-stop partner for the funeral profession,” said Steve Gackenbach, President of Matthews Memorialization. “Dodge is a leader in embalming and brings a loyal customer base we’re excited to serve.”

Here’s What Changes for You:

Nothing.

You’ll still order from your Dodge sales rep.
The product line isn’t changing.
The same team is still running Dodge.

Tim Collison, Dodge CEO, is staying on and committed long-term. Dodge reps will be reaching out to answer questions, but day-to-day — it’s business as usual.

“Selling a 132-year-old family business wasn’t easy,” said Debbie and Kristie Dodge. “But joining Matthews felt like the right move. They care about their people and their customers — same as we always have.”

Why This Matters

If you’re a funeral home looking to simplify vendors or streamline operations, this opens the door. Dodge and Matthews under one roof means more of what you need from a single source — without losing the legacy quality you rely on.

This is consolidation done right: smart, strategic, and built around continuity.

Quick Recap on Who’s Who

The Dodge Company: North America’s largest embalming chemical supplier. Family-owned since 1893. Trusted by embalmers for over a century.
Matthews Memorialization: Major player in funeral and cemetery supply. Known for innovation in cremation systems, memorials, and merchandising.

Legal Talk (Because We Have To)

Yes, there are forward-looking statements. No, you don’t need to read them unless that’s your thing. Scroll if you want the SEC-safe version of this announcement.

OFFICIAL RELEASE: MATTHEWS INTERNATIONAL ANNOUNCES ACQUISITION OF THE DODGE COMPANY

PITTSBURGH, May 12, 2025 (GLOBE NEWSWIRE) – Pittsburgh, PA – Matthews Memorialization, a division of Matthews International Corporation (NASDAQ GSM: MATW) (“Matthews”), today announced it has acquired The Dodge Company (“Dodge”). Dodge is a leading supplier of embalming chemicals and supplies in North America and sells a variety of other related products to Funeral Homes. Matthews Memorialization is a leading supplier to Funeral Homes and Cemeteries in North America, selling a broad range of products including caskets, bronze and granite memorials, and cremation equipment. The acquisition advances Matthews’ strategy of providing a comprehensive product offering to its death care industry customers.

“We are excited to welcome Dodge and its employees to the Matthews Memorialization family,” said Steve Gackenbach, Matthews Memorialization Group President. “As a leading supplier to Funeral Homes and Cemeteries, our strategy is to offer customers a full range of products and solutions. Dodge is a market leader and most recognized provider of embalming solutions and is an ideal addition to our suite of offerings. Our goal is to provide seamless service and continuity for Dodge customers, ensuring they continue to receive the same great products from the same Dodge team. Dodge has a long history of strong customer relationships and providing leading embalming offerings to the Funeral Profession. We intend to continue that tradition.”

“The thought of selling our 132-year-old family business was very difficult, but the decision to join Matthews was the easy part; it felt right,” said Debbie and Kristie Dodge. “We’re confident they’ll continue our tradition of providing customers with outstanding service and products and know from friends who are part of Matthews that they value and respect employees – something very important to generations of Dodges.”

For Dodge customers, it is business as usual; essentially nothing will change for customers as a result of the acquisition. Dodge customers will continue to partner with their Dodge sales and customer service representatives to order the same products they do today. Purchasing processes will remain the same. Tim Collison, Dodge CEO, has made a long-term commitment to continue to lead Dodge as part of Matthews. Dodge sales representatives will proactively contact customers with information about the acquisition and to answer any questions. In the meantime, customers with questions may contact their Dodge sales representative.

About Matthews International
Matthews International Corporation operates through two core global businesses – Industrial Technologies and Memorialization. Both are focused on driving operational efficiency and long-term growth through continuous innovation and strategic expansion. The Industrial Technologies segment evolved from our original marking business, which today is a leading global innovator committed to empowering visionaries to transform industries through the application of precision technologies and intelligent processes. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Company has over 5,400 employees in 19 countries on four continents that are committed to delivering the highest quality products and services.

About The Dodge Company
The Dodge Company is the largest supplier of embalming chemicals and cosmetics in North America and provides a vast array of other products for Funeral Service Providers. Since 1893 when A. Johnson Dodge founded The Dodge Company, its goal has been to help embalmers and Funeral Directors do the best work they are capable of doing. Visit Dodge online at shop.dodgeco.com.

Forward Looking Statements
Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, including statements regarding the anticipated timing and benefits of the proposed joint venture transaction, and may be identified by the use of words such as “expects,” “believes,” “intends,” “projects,” “anticipates,” “estimates,” “plans,” “seeks,” “forecasts,” “predicts,” “objective,” “targets,” “potential,” “outlook,” “may,” “will,” “could” or the negative of these terms, other comparable terminology and variations thereof.

Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations, and no assurance can be given that such expectations will prove correct.

Factors that could cause the Company’s results to differ materially from the results discussed in such forward-looking statements principally include our ability to achieve the anticipated benefits of the joint venture transaction that recently closed, changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company’s products, including changes in costs due to adjustments to tariffs, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company’s operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company’s acquisitions, divestitures, and business combinations, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company’s internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company’s control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, the Company’s plans and expectations with respect to its exploration, and contemplated execution, of various strategies with respect to its portfolio of businesses, the Company’s plans and expectations with respect to its Board, and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.