Marel hf.

JBT Corporation and Marel hf. have executed a definitive transaction agreement for JBT's voluntary takeover offer for all Marel shares. The offer is expected to launch in May 2024 and close by the end of 2024, subject to regulatory and shareholder approvals.

JBT Corporation submitted a revised offer to acquire Icelandic food processing company Marel hf. for €3.4 billion, combining 50% cash and 50% shares. The deal aims to create one of the largest food technology companies.

The Icelandic Competition Authority approved the merger of Marel Iceland ehf., a subsidiary of Marel hf., and Valka ehf., both food processing equipment manufacturers. The decision was announced on 29 October 2021.