Hillenbrand Announces Intention to Explore Strategic Alternatives for its Batesville Business
Hillenbrand, Inc announced today that its Board of Directors has initiated a process to explore strategic alternatives for its Batesville business. As part of the process, the Board will consider a range of potential alternatives.
“Today’s announcement is a defining moment for Hillenbrand, building on the exceptional work our teams have done to position our businesses for success,” said Kim Ryan, President and Chief Executive Officer of Hillenbrand. “Batesville has been a recognized leader in the death care industry for more than 115 years because of its exceptional quality, innovation, and customer service. Through this process, we are focused on determining the best path to benefit Batesville, its stakeholders, and Hillenbrand.”
Hillenbrand has retained Evercore as the financial advisor for its evaluation of strategic alternatives for Batesville. There can be no assurance that the process will result in any transaction for Batesville or that any transaction, if pursued, will be consummated. Hillenbrand does not intend to provide any additional information on the review of strategic alternatives for Batesville unless or until the process is completed or terminated.
Additionally, earlier today, Hillenbrand announced that it has signed a binding offer to acquire LINXIS Group, a leading global provider of mixing, ingredient automation, and portioning solutions for food and other higher growth end markets.
Hillenbrand (NYSE: HI) is a global industrial company operating in over 40 countries with over 10,000 associates serving a wide variety of industries around the world. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. Hillenbrand’s portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. To learn more, visit: www.Hillenbrand.com.
Batesville (www.Batesville.com), a wholly owned subsidiary of Hillenbrand, Inc. (NYSE: HI), is a recognized leader in the death care industry in North America, offering a comprehensive portfolio of burial and cremation products, memorialization options and innovative technology solutions. For more than a century, Batesville has supported licensed funeral professionals in helping families honor the lives of those they love.® A history of manufacturing excellence, product innovation, superior customer service and reliable delivery helped Batesville become – and remain – an industry leader.
Source: Hillenbrand, Inc.