Arni Oddur Thordarson, CEO of Marel, said Sulmaq has a very strong position in Central and South America and has been on the forefront of providing primary meat solutions in the region.
“Marel has had great success in the poultry and fish markets in South America over the last two decades and is now gearing up for further growth in the region,” Oddur Thordarson explained. “We are committed to investing in further growth and innovation to add value for our current and future customers. The acquisition is not expected to have a material impact on Marel’s financial results in the short term. However, the long-term market potential is great in this 600 million people market for poultry, meat and fish processing, both for companies supplying for regional consumption and for export around the globe.”
Marel expects to complete the acquisition in the third quarter of 2017, subject to customary closing conditions. Antitrust approval is not required. Additionally, Sulmaq’s leaders, Fernando Roos, Henrique Roos and Julio Roos will continue in their current positions with the company.
“By the late 2000’s we had gained a premier position in the red meat segment in Central and South America,” said Fernando Roos, Director Commercial, Sulmaq. “Today, we see a great opportunity in being a part of Marel, an innovative pioneer in our field. We really believe in the growth prospects and long-term outlook for us with Marel and the added value we will be able to offer our customers. Being a part of a larger organization also means that our employees will benefit from even more career opportunities.”
Sulmaq will be run as a standalone business with support from Marel, which has US operations based in Lenexa, Kansas.