Complementary solution offering
The transaction is in line with Marel's strategic objective to be a full-line supplier of advanced food processing solutions, software and services to the fish, meat and poultry industries. Stranda Prolog's complementary product portfolio for primary salmon processing and aquaculture solutions will bring Marel closer to becoming a full-line provider to the global salmon industry.
Strategic partnership built on a strong foundation
Marel and Stranda Prolog have long-standing relationships with many of the largest salmon processors globally and have successfully collaborated over the years to deliver full-line projects worldwide, with Marel's overarching Innova software enabling a seamless flow across all processing stages.
With their combined product portfolio, the two companies will be in a stronger position to extend their customer reach through Marel's global sales and service network and better service their existing and future customers.
In addition, the strategic partnership will provide a forum for further collaboration on sales, and R&D fully focused on developing innovative solutions for the salmon market, and on sharing know-how and best practices.
The transaction is a combination of two parts; the acquisition of existing shares and injection of new equity to support future growth opportunities through the development and launch of new innovative solutions.
Gudbjorg Heida Gudmundsdottir, Executive Vice President of Marel Fish:
'We are excited to launch this strategic partnership with Stranda Prolog, an innovative provider of solutions for primary salmon processing. Stranda Prolog's superior knowledge of raw material handling and quality processing solutions is mirrored in their strong presence in the market.
In recent years, Marel and Stranda Prolog have achieved great results collaborating on innovative full-line projects with some of the industry´s most forward thinking fish processors. By partnering up formally, we are in a stronger position to continue to transform the salmon processing industry, creating a more seamless flow, securing valuable data, and providing safe high quality products to consumers worldwide.
On a personal note, I am pleased to enter into the partnership with a company that shares Marel's values and vision, and I look forward to us working together.'
Klaus Hoseth, CEO Stranda Prolog:
'It is with great honor and respect that we welcome Marel as a principal shareholder in Stranda Prolog. We are proud to partner formally with Marel, who with their digital solutions and global reach in sales and services, share our vision to create innovative processing solutions for an increasingly global customer base in the fish industry.
We will continue to be recognized as Stranda Prolog to our existing customers, but for new customers in new markets, we will be known as a strategic partner of Marel. Together, we remain fully committed to creating value for our customers through quality processing, with a focus on fish welfare and the responsible harvesting of farmed fish.
For our employees, their families, and the city of Kristiansund, this transaction is a recognition of all our hard work and accomplishments, and provides a great foundation and funding for new endeavors. We know Marel well, with their expertise in our industry and knowledge of how we operate.
I look forward to entering a partnership with industry colleagues who have been my friends for so many years.'
About Stranda Prolog
Founded in 1946 as a family company, Stranda Prolog is a leading innovative provider of salmon processing equipment, including high quality helix tanks, fish pumps and stunners. Furthermore, Stranda Prolog caters to the aquaculture segment with innovative fish care and net cleaning solutions. Stranda Prolog has a highly skilled team of around 100 employees located in Kristiansund in Norway. Stranda Prolog's annual revenues are around EUR25 million.