Marel Food Systems and Stork N.V. announce that they have entered into an agreement on the acquisition of the Stork Food Systems division of Stork N.V.
The companies expect the transaction to be closed within several months, subject to anti-trust clearance and other customary closing conditions. Until then both companies will continue to operate independently as before.
Stork Food Systems, headquartered in the Netherlands, is a global provider of solutions for the poultry, red meat and further processing industry. Marel Food Systems, headquartered in Iceland, manufactures a wide range of machines and systems for most sectors of the food processing industry worldwide.
After the acquisition, Marel Food Systems will be able to offer a powerful combination of equipment and systems for primary, secondary and further processing, creating more value with innovative equipment and solutions. The company will continue its strategy to grow as an important innovator in the food processing industry with a strong focus on research and development.
â€œThe strong innovation capabilities of Stork Food Systems make it a perfect partner for Marel Food Systems,â€ says Dr Hordur Arnarson, president and CEO of Marel Food Systems. â€œThe product portfolios of the two companies are complementary with no overlap. We need size, constant innovation and a global presence to succeed in our competitive industry. After the acquisition we will be better equipped to enter emerging markets such as Asia, Eastern Europe and South America.â€