Marel has entered into an agreement to acquire TREIF Maschinenbau GmbH (TREIF), for EUR 128 million in cash and 2.9 million Marel shares.
According to the press release from Marel, TREIF is a German company at the forefront of solutions and services focused on portioning, dicing, slicing and cutting of food. The meat industry is the company’s largest segment.
The acquisition will enhance Marel’s full-line offering for the meat industry and help improve automation, food safety and flexibility for other consumer-ready product offerings.
"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,” Árni Oddur Thordarson, CEO of Marel, said in a statement.
“Together, we are better positioned to meet customer needs in terms of automation, flexibility and time to market for consumer-ready products. TREIF’s 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. TREIF’s installed base is substantial and by leveraging Marel’s digital platform and global reach with local teams in all key regions, we believe that we can drive further growth and aftermarket potential.”
The closing of the acquisition is subject to anti-trust approval and other customary closing conditions. It is expected to take place later this year.
