Marel’s acquisition of German food cutting technology provider TREIF Maschinenbau GmbH (“TREIF”), as announced on 4 September 2020, has now been successfully closed. TREIF is a great addition to Marel, strengthening the full-line product offering, increasing standard equipment sales and leveraging aftermarket potential with Marel’s extensive global reach and local services in all regions.
The transaction was subject to customary closing conditions, including anti-trust approval, that have all been fully satisfied as of 8 October 2020. The purchase price on a cash and debt free basis was paid with EUR 128m in cash and 2.9 million Marel shares.
With the acquisition of TREIF, two technological leaders with a shared passion for innovation and a vision to transform the way food is processed, join forces. TREIF, with around 500 employees and EUR 80 million in revenues, is highly focused on innovation and cutting-edge technology, backed by an experienced and committed team and long-standing partnerships with customers. TREIF’s product portfolio in the cutting segment, portioning, dicing and slicing is highly complementary with Marel’s product portfolio.
The transaction will enhance Marel’s full-line offering for the meat industry, as well as its other segments focused on improving automation, food safety and flexibility for consumer-ready product offerings. United, the two companies are in a stronger position to drive further growth, providing better value for both current and future customers.