Complementary solution offering
The transaction is in line with Marel’s strategic objective to be a full-line supplier with standard and modular building blocks of advanced food processing solutions across the fish, meat and poultry industries. Curio’s complementary product portfolio of heading, filleting and skinning solutions brings Marel closer to becoming a full-line provider to the global fish industry.
A history of successful cooperation
Marel and Curio have a history of working together to deliver full-line projects around the world including overarching Innova software from Marel to enable seamless flow across all processing stages. Curio will utilize Marel’s sales and service network to extend its global reach with the objective of serving customers better.
Option to acquire the remaining 50%
The transaction is conducted in two phases; 40% at closing and the additional 10% on 1 January 2021. Curio’s operational profit is expected to have a positive impact on Marel Fish EBIT margin when financials are consolidated from 1 January 2021. Curio’s founder Ellidi Hreinsson, will stay with the company. Marel has an option to acquire the remaining 50% of shares in four years.