Marel agrees to acquire TREIF, a German food cutting technology provider

Nachrichtenquelle: globenewswire
04.09.2020, 06:01  |  905   |   |   

Marel is pleased to announce an agreement to acquire German food cutting technology provider TREIF Maschinenbau GmbH (“TREIF”). The two companies have a great strategic and cultural fit with complementary product portfolios and geographic presence, creating a strong platform to enhance further growth.

About TREIF
TREIF, a family-owned business headquartered in Oberlahr, Germany is at the forefront in solutions and services focused on portioning, dicing, slicing and cutting of food. The company was founded in 1948, focusing on cutting solutions for the meat industry, which continues to be its largest segment. With annual revenues of over EUR 80 million, and around 13 million in EBITDA, TREIF has an impressive track record of continuous product innovation and steady growth with 500 employees in facilities in Europe, US, and China. Its long-standing customer base is diversified, ranging from specialist retailers to blue-chip international food processors. 

A shared passion for innovation and partnership with customers
TREIF is a great addition to Marel, strengthening the full-line product offering, increasing standard equipment sales and leveraging aftermarket potential with Marel’s extensive global reach and local services in all regions. Like Marel, TREIF is highly focused on innovation and cutting-edge technology, backed by an experienced and committed team and long-standing partnerships with customers. TREIF’s product portfolio in the cutting segment, portioning, dicing and slicing is highly complementary with Marel’s product portfolio. The transaction will enhance Marel’s full-line offering for the meat industry, as well as its other segments focused on improving automation, food safety and flexibility for consumer-ready product offerings. United, the two companies are in a stronger position to drive further growth, providing better value for both current and future customers.

Transaction highlights and timeline
Marel has agreed to acquire the entire share capital of TREIF Maschinenbau GmbH, including all relevant business activities of the group. The purchase price on cash and debt free basis (enterprise value) will be paid with EUR 128 million in cash and 2.9 million Marel shares. The closing of the acquisition is subject to customary closing conditions, including anti-trust approval, which is expected to take place later in the year.

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