In 1989 Matthews was awarded the Queen's Service Medal by the Government of New Zealand for services to the New Zealand meat industry. He was later appointed a CVO in the 2006 New Year Honours List, for his service with the Duke of Edinburgh's Award, a scheme for which he had also previously been appointed a CBE. However, in view of the H5N1 outbreak in late January 2007 at his Holton, Suffolk, plant, Matthews asked for the investiture on 9 February 2007, at which he had been due to receive the CVO, to be postponed. In January 2010, he retired from the position of Chairman of Bernard Matthews Farms at the age of 80.