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    MAREL   IS0000000388

MAREL HF.

(MAREL)
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Marel : TREIF acquisition successfully closed

10/08/2020 | 12:18pm EDT

Marel’s acquisition of German food cutting technology provider TREIF Maschinenbau GmbH (“TREIF”), as announced on 4 September 2020, has now been successfully closed. 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.

The transaction was subject to customary closing conditions, including anti-trust approval, that have all been fully satisfied as of 8 October 2020. The purchase price on a cash and debt free basis was paid with EUR 128m in cash and 2.9 million Marel shares.  

With the acquisition of TREIF, two technological leaders with a shared passion for innovation and a vision to transform the way food is processed, join forces. TREIF, with around 500 employees and EUR 80 million in revenues, 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.

For further information on the TREIF transaction, Marel’s business model and 2017-2026 growth strategy, please visit marel.com/IR


For further information, please contact:

Marel Investor Relations

Tinna Molphy, IR@marel.com and tel. + 354 563 8001.

Marel Media Relations

Iceland: Marel, Audbjorg Olafsdottir, Audbjorg.olafsdottir@marel.com and tel. +354 853 8626.

International: FTI Consulting, Alex Le May,  marel@fticonsulting.com and tel. +4420 3727 1340.

Netherlands & Benelux: Bickerton Strategies, Ian Bickerton, Ian@bickertonstrategies.com and tel. +31 62501 8512, and David Brilleslijper, david@bickertonstrategies.com and tel + 31 610942514.  

About Marel
Marel (NASDAQ: MAREL; AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software and services to the poultry, meat and fish industries. Our united team of more than 6,300 employees in over 30 countries delivered EUR 1.3 billion in revenues in 2019. Annually, Marel invests around 6% of revenues in innovation. By continuously transforming food processing, we enable our customers to increase yield and throughput, ensure food safety and improve sustainability in food production. Marel was listed on NASDAQ Iceland in 1992 and dual-listed on Euronext Amsterdam in June 2019. For further information, please visit marel.com/IR.

About TREIF
TREIF is a family owned business headquartered in Oberlahr, Germany and a leading supplier of portioning, dicing, slicing and bread cutting solutions with annual revenue of around EUR 80 million and 500 employees. TREIF has an impressive track record of continuous product innovation, a large installed base and loyal customer base. Since current owner and CEO, Uwe Reifenhäuser, took over management in 1989, TREIF has shown steady growth and opened offices in Europe, USA, and China. Its customer base is diversified ranging from specialist retailers to global food processors within red meat, dairy and baked goods. For further information, please visit www.treif.de/en.


© OMX, source OMX

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Financials
Sales 2021 1 395 M 1 678 M 1 678 M
Net income 2021 141 M 169 M 169 M
Net Debt 2021 102 M 123 M 123 M
P/E ratio 2021 31,9x
Yield 2021 1,10%
Capitalization 4 403 M 5 304 M 5 296 M
EV / Sales 2021 3,23x
EV / Sales 2022 2,89x
Nbr of Employees 6 800
Free-Float 77,0%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 2
Average target price 6,22 €
Last Close Price 5,91 €
Spread / Highest target 5,55%
Spread / Average Target 5,26%
Spread / Lowest Target 4,97%
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Managers and Directors
NameTitle
Árni Oddur Þórðarson Chief Executive Officer
Linda Jonsdottir Chief Financial Officer, EVP-Finance, IT & HR
Ásthildur Margrét Otharsdóttir Chairman
Arnar Þór Másson Vice Chairman
Margret Jonsdottir Independent Director
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