Icelandic meat and food processing equipment manufacturer, Marel, has been fully acquired by American business John Bean Technologies Corporation (JBT). The combined company will be known as JBT Marel Corporation.
The merger was completed on 3rd January as shares in the combined business began trading on both the New York Stock Exchange and Nasdaq Iceland.
Commenting on the news, Brian Deck, now chief executive officer of JBT Marel Corporation, said: “Today is a significant achievement, culminating in over a year of dedicated effort to combine the complementary strengths of both JBT and Marel.
“The creation of JBT Marel Corporation is guided by our shared purpose, to transform the future of food. With JBT Marel’s diverse solutions offering, enhanced operational scale, and deep application, service and digital expertise, we can better support our customers and the broader global food chain.”
“United as JBT Marel, we are focused on integrating the businesses to deliver continuity and enhanced value to our global customers.”
Árni Sigurdsson, JBT Marel
Árni Sigurdsson, formerly of Marel, now president of JBT Marel Corporation, added: “I want to extend my appreciation to the JBT and Marel teams for their relentless commitment to serving our customers as well as their incredible efforts to complete this transformational merger.
“As we move forward, united as JBT Marel, we are focused on integrating the businesses to deliver continuity and enhanced value to our global customers, shareholders, and other stakeholders.”
The meat and poultry arm of the business will be directly headed up by CEO Brian Deck and merged with JBT’s operations. Sigurdsson will head up the Fish Division of the business under ‘Fish & Retail and Food Service Solutions.’
