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Marel acquires MPS
08 Mar 2016
In January 2016 Marel closed its acquisition of MPS Meat Processing Systems. The purchase price was approximately EUR 382 million on a debt and cash-free basis. The agreement of the acquisition was initially announced in November 2015. The closing was subject to anti-trust approvals that were obtained without reservation in January 2016.
Marel is the leading global provider of advanced processing systems and services to the Poultry, Meat and Fish industries. Marel is headquartered in Iceland and has approximately 3,900 employees worldwide, offices and subsidiaries in 30 countries across six continents, and a network of more than 100 agents and distributors.
MPS meat processing systems
MPS is a leader in primary processing solutions for the pork and beef industry as well as in innovative solutions in water treatment and food logistics. MPS has one of the largest installed bases in the industry and a large global base of customers. MPS is headquartered in the Netherlands and has around 670 employees. The main production sites of MPS are in the Netherlands and in China and it has a strong sales and service network around the globe.
Full line provider to the meat industry
United, the two companies will be at the forefront in developing full-line solutions and equipment for the meat processing industry. Marel and MPS have a good strategic and cultural fit with a highly complementary product portfolio and geographic presence, creating a strong platform to enhance further growth.
The MPS acquisition enhances Marel’s position as a leading global provider of advanced systems and solutions to the poultry, meat and fish industries and is fully in line with the company’s previously announced growth strategy. This step will contribute to a more balanced revenue split between industry segments and geographies. On a pro-forma basis Marel’s meat segment will now contribute to approximately 30% of revenue and EBITDA of Marel.
Pro-forma revenue combined for Marel and MPS in 2015 was 977 million, with estimated adjusted EBIT of 133 million. Pro-forma order book is around 320 million entering 2016 compared with 280 million at the beginning of the year 2015.The combined teams of Marel and MPS comprises approximately 4,600 employees worldwide, offices and subsidiaries in 30 countries across six continents, and a network of more than 100 agents and distributors.
Remko Rosman becomes Managing director of Marel Meat and a member of Marel’s Executive Team
Remko Rosman, CEO of MPS Meat Processing Systems, will join Marel´s Executive Team as the new Managing Director of Marel Meat. Decisive steps will be taken in integrating the two companies to strengthen the market approach and utilize the full potential of being a full line provider. A migration plan is in place to fully merge the branding of the two companies under the Marel brand and logo. This will be finalized in January 2017. David Wilson, former Managing Director of Marel Meat will lead Marel’s activities in further processing as Managing Director. David Wilson has lead transformation of Marel Meat in recent years with good success and established Marel as key player in the secondary processing of meat that will now be integrated with MPS, the global leader in primary processing of meat.
MPS is a great complementary fit with Marel. We know each other well as we have been partners in several projects in the meat industry around the globe, where MPS has been delivering innovative and automated primary processing solutions and Marel has been delivering the secondary processing solutions with overarching software solutions. Together the companies are stronger and in the position to deliver full line solutions to Meat processors around the world.
The acquisition is fully in line with Marel’s strategy to be at the forefront of delivering full line solutions to the Poultry, Meat and Fish industries globally. The combination of MPS and Marel is in many ways similar to the combination of Stork Food Systems and Marel, 8 years ago that has stimulated organic growth and resulted in great solutions and value to Marel’s customers and shareholders.
I want to welcome Remko Rosman as the new Managing Director for Marel Meat and a new member of our Executive Team. I have high expectations of his leadership and experience which will undoubtedly benefit Marel.
- Arni Oddur Thordarson, CEO of Marel
We are excited to become a part of Marel and find a long-term home for MPS and its employees. The complementary nature of our products and footprint and the strength of our combined brands enhance scale and full line offering. Marel and MPS have played an important role in defining the food processing industry and together we will be better positioned to invest in growth and innovation to add value to our current and future customers.
- Remko Rosman CEO of MPS and Managing Director of Marel Meat