July 27, 2017
Marel agrees to acquire Sulmaq
Marel has agreed to acquire Sulmaq, a developer of primary processing solutions to pork and beef industries in Central and South America.
The move will strengthen Marel's position in the regions and ensure better access to a large and growing market for beef and pork. It also puts both companies at the forefront of creating innovative, full-line solutions and equipment for meat processors around the world.
Over the years, Marel has grown organically as well as through the acquisition of several internationally renowned brands like MPS, Stork and Scanvaegt. The Sulmaq acquisition is in line with the company's strategy to be a full line, global supplier to poultry, meat and fish industries.
With an annual revenue of around EUR25 million (US$29.3 million), Sulmaq - which is based in the state of Rio Grande do Sul in southern Brazil - employs around 400 employees. The company's main solutions include hog slaughtering lines, cattle slaughtering lines, cutting and deboning, viscera processing and food logistics.
It also develops and manufactures precision investment castings for various market segments.
"Sulmaq is a great addition to Marel's portfolio. 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," Arni Oddur Thordarson, CEO of Marel, said. "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. We are committed to investing in further growth and innovation to add value for our current and future customers."
The acquisition is expected to close in the third quarter of 2017, subject to customary closing conditions although anti-trust approval is not required.
Sulmaq's leaders, Fernando Roos, Henrique Roos and Julio Roos will continue in their current positions at Sulmaq. The company will be run as standalone business with support from Marel.
- Marel
