Marel and Scanvaegt join forces
Marel has announced the acquisition of all shares in the Danish food
equipment manufacturer Scanvaegt International.
The two companies will continue to operate in the market as two separate
business units with two individual brands.
Marel and Scanvaegt aim to create a strong player able to meet the
demands of the ever-consolidating global food industry.
"Scanvaegt has a very good reputation and high-quality products. It is
important to stress that this is a joining of forces between two very good
companies," said Mr Hordur Arnarson, CEO of Marel. "We regard it as an important
step towards fulfilling Marel's strategy of becoming one of the leading global
manufacturers of food processing equipment, and to triple the Group's annual
revenues in the next three to five years."
Marel Group revenue is expected to increase by more than 100 percent in 2006
with the recent acquisition of British AEW Delford
Systems, and now Scanvaegt. New and existing products will be offered
through the combined sales channels of Marel and Scanvaegt.
"The many mergers and acquisitions in the food industry are creating
ever-larger companies," says Mr Lars Grundtvig, Chairman of Scanvaegt.
"Scanvaegt and Marel have to grow as well, and I am confident that the joining
of the companies will lead to further profitable growth for both, with a wider
product range to meet the growing demands of the food processing industry."
The Marel Group will have 2000 employees, of which 795 are in Denmark, 350 in
Iceland and 380 in the UK, as well as 30 sales offices around the
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