Marel has agreed a deal to acquire German food cutting technology provider Treif for more than £114 million.
The company will acquire the entire share capital of Treif Maschinenbau GmbH, including all relevant business activities of the group. The purchase price will be paid with €128 million (c. £114 million) in cash and 2.9 million Marel shares.
Árni Oddur Thordarson, CEO of Marel, said: "We are pleased to announce the agreement to acquire German processing equipment provider Treif, a true hidden champion in our industry. With this transaction, two technological leaders with a shared passion for innovation and a vision to transform the way food is processed, join forces.
"Treif largest business segments today are within meat and baked goods, and we believe their technical capabilities can be cascaded to Marel’s poultry and fish segments and accelerate our innovation roadmap."
“We have followed Treif for years and been impressed by their cutting-edge technology, talented team and success in customer engagement, ranging from small shops to leading blue chip international food companies. Together, we are better positioned to meet customer needs in terms of automation, flexibility and time to market for consumer-ready products. Treif leading cutting technology is highly complementary to Marel’s existing product portfolio. Treif's largest business segments today are within meat and baked goods, and we believe their technical capabilities can be cascaded to Marel’s poultry and fish segments and accelerate our innovation roadmap.
“The acquisition of Treif is in line with our 2017-2026 growth strategy. There are ample consolidation opportunities in our industry, and Marel has the commitment and capital structure to pursue opportunities that support our ambitious growth target of reaching €3 billion in revenues by 2026."
Treif is a family-owned business headquartered in Oberlahr, Germany and is a provider of solutions and services focused on portioning, dicing, slicing and cutting of food.
Uwe Reifenhäuser, CEO of Treif, added: "I am confident that we have found a great home for Treif's legacy and secured the long-term success of our leading technology, our customers and our committed employees. Our passion has always been to deliver innovative, reliable solutions with a strong value proposition. As a result we have one of the largest food cutting product portfolio and a loyal customer base across both the retail and processing industry.
“Treif and Marel are a good strategic fit, both from a product and geographical perspective. We have known and respected each other for a long time, and our recent discussions confirm our cultural fit and shared passion for innovation and customer satisfaction.
“Looking further ahead, the dynamic global food market is evolving towards more complex and digitalised solutions, and our long-standing customers worldwide need qualified local service teams on all continents to keep their operations running at optimal performance. Marel has invested significantly in its global reach and digital platforms, making them an excellent partner in this regard. Our dedicated employees will get the opportunity to join a large international organisation that is also the global industry leader in our field."
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
