Marel taps into South America with Sulmaq takeover
Advanced equipment provider Marel has agreed to acquire Brazilian meat primary processing equipment provider Sulmaq, in an attempt to strengthen its position in Central and South America.
Sulmaq’s annual revenue is about €25 million and the acquisition is expected to close in the third quarter of 2017.
The takeover aims to tap into Brazil, the world’s largest producer of beef and third largest producer of poultry meat, and forms part of Marel’s plans to become a “full line supplier to the poultry, meat and fish industries globally”.
Marel’s chief executive, Arni Oddur Thordarson, commented that the takeover’s “long-term market potential is great”.
He added: “Sulmaq has a very strong position in Central and South America and has been on the forefront of providing primary meat solutions in the region.
“Marel has had great success in the poultry and fish markets in South America over the last two decades and is now gearing up for further growth in the region.”