Marel acquires Sulmaq in order to consolidate its position in Central and South America
The acquisition of Sulmaq is part of Marel's strategy to become a full line supplier to the poultry, meat and fish industries at a global level. Since Brazil is the second largest producer of beef and the third largest producer of poultry meat in the world, the company expects this step to result in a stronger position in Central and South America.
“Marel has had great success in the poultry and fish markets in South America over the last two decades and is now gearing up for further growth in the region,” ArniOddurThordarson, CEO of Marel, said in a statement. “We are committed to investing in further growth and innovation to add value for our current and future customers. The acquisition is not expected to have a material impact on Marel’s financial results in the short term. However, the long-term market potential is great in this 600 million people market for poultry, meat, and fish processing, both for companies supplying for regional consumption and for export around the globe,” OddurThordarson added.
Sulmaq is based in southern Brazil in the state of Rio Grande do Sul, it has nearly 400 employees and an annual revenue around 25 million euro. The company's main solutions include hog slaughtering lines, cattle slaughtering lines, cutting and deboning, viscera processing and food logistics. Sulmaq also develops and manufactures precision investment castings for various market segments.
Over the years, Marel has grown both organically and through the acquisition of several internationally renowned brands like MPS, Stork and Scanvaegt.
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