Marel to acquire salmon processing equipment provider Valka

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Will be in a stronger position to “transform the fish processing industry”.

Marel has announced an agreement to acquire Valka, an Icelandic provider of advanced processing solutions for the global fish (whitefish and salmon ) industry.

Marel has agreed to acquire over 90 per-cent of the share capital in Valka ehf. and will offer all remaining shareholders to acquire their shares on the same terms with the objective to acquire 100 per-cent of the shares. The purchase price is paid 50 per-cent in cash and 50 per-cent in Marel shares, except for smaller shareholders who will have the option of a full cash payment. Sellers that receive Marel shares will undertake a lock-up period of 18 months.

The transaction is subject to customary closing conditions, including anti-trust approval and is expected to be completed later this year.

“This transaction will strengthen Marel’s full-line offering to the fish processing industry and increase scale to serve customer needs better. The shared technical know-how in the combined team will accelerate the innovation roadmap allowing processors to adapt swiftly to a rapidly changing market,” wrote Marel.

Valka’s founder and CEO Helgi Hjálmarsson will take on a role as director of solution integrity within Marel.

“Together the companies will build on the best of both, increase scale, accelerate innovation and strengthen our combined offering to continue to provide our customers with best-in-class processing solutions in the growing food processing industry,” said executive vice president Marel Fish Guðbjörg Heiða Guðmundsdóttir.

“The establishment of Valka in 2003 was a big step for me after nine excellent years in Marel where I worked on many innovative projects. By joining Marel you could say we are moving back home because both companies share the same vision and passion for developing high-tech processing solutions that transform the way fish is processed in a sustainable way” added Hjálmarsson.

Marel is a leading global provider of advanced food processing equipment, listed on NASDAQ Iceland and dual-listed on Euronext Amsterdam. Valka is a high-tech company based in Iceland and Norway, solely focused on serving the seafood industry.


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