🇮🇸 🇩🇪 Marel acquires E+V Technology, global provider of vision systems for the meat and poultry food processing industries

April 4, 2023
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Press release from Marel

Eagle Acquisition

Marel is pleased to announce it has entered into an asset purchase agreement to acquire 100% of operating assets related to E+V Technology, a global provider of advanced vision systems for the meat and poultry industries. Under this agreement, Marel has acquired E+V Technology’s assets related to their vision equipment and software product portfolio, including carcass- and ribeye-grading and classification, which are highly complementary to Marel’s existing solutions.

About E+V Technology

E+V Technology was founded in 1992 and has since then emerged as a leading player in vision systems, catering to the meat and poultry industries. The company’s products are used for the grading and classification of beef, pork, lamb, and poultry and is highly complementary to Marel’s current offering to these key market segments. E+V Technology’s success owes much to its strong team of engineers and programmers and following the transaction, E+V’s 19 employees will be instrumental in driving further progress as part of the wider Marel organization. The company is headquartered in Oranienburg, Germany and annual revenues are above EUR 5 million.

Marel and E+V Technology stronger together

E+V Technology’s product portfolio of vision equipment and software, including carcass- and ribeye-grading and classification, is a natural fit with Marel’s comprehensive line of solutions to the meat and poultry market segments. With this acquisition there is a great opportunity to leverage E+V’s long-standing customer relationships and Marel’s global sales and service network to drive further sales of grading and classification solutions, enhance local service capabilities and the customer-centric experience. Building on E+V’s vision portfolio, Marel intends to drive further innovation and data driven solutions that transform the way food is processed. The former owners of E+V, Axel Hinz and Horst Eger, will stay with the business.

Arni Sigurdsson, Chief Business Officer and Deputy CEO:

“Vision technology plays a key role in the food processing industry to evaluate the raw material, optimize yield, and improve performance. Marel has many applications using vision technology already, including SensorX and M-Line Robots, and has developed digital solutions and service offerings on top of these. The acquisition of E+V is an important step for us to strengthen our product portfolio. Carcass grading for beef and pork is a critical application for both processors and farmers, and we are excited to further develop and integrate the vision based applications into our data driven solutions.”

Axel Hinz and Horst Eger, Founders and Managing Directors of E+V Technology:

“We are extremely proud of the team that has developed our revolutionary vision technology over the past 30 years and are excited to join forces with Marel to further transform food processing. We are confident that Marel’s global reach and commitment to innovation will bring further benefits to our current and future customers in the domain of grading and classification across the industries Marel is active in. Lastly, we feel there is a strong cultural fit and positive mindset that will also bring our team members new opportunities.”


Contact

For further information, please contact:

Marel Media Relations

[email protected]
tel +354 563 8200

Marel Investor Relations

[email protected]
tel. + 354 563 8001.

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 segments. In line with its 2017- 2026 growth strategy, Marel has gradually expanded its business model into adjacent industries, where most recently the acquisition of Wenger has added a fourth pillar focused on pet food, plant-based protein and aqua feed. Our united team of around 8,000 employees in over 6 continents delivered EUR 1.7 billion in revenues in 2022. 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.


Originally published on 4 April.

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