Corporation
The Marel brand was established in 1983 and went public on the Icelandic Stock Exchange in 1992, marking its transition from a startup to a global company.[10]
In 2007, Marel changed its corporate identity to Marel Food Systems after acquiring four new brands in 2006: AEW Delford, Carnitech, Marel, and Scanvaegt. The acquisition of these companies significantly increased the size of Marel's operations globally. On January 1, 2010, Marel Food Systems hf. changed its name to Marel hf. after its integration with Dutch company Stork Food Systems was completed; Marel's practice is integrate the companies it acquires under a common identity.[11]
Marel bought MPS meat processing systems in 2015 for €382 million to bolster its foothold in the red meat industry (pig, cattle, and sheep) and balance its expertise in the fish and poultry industries. In conjunction with the sale, Marel also acquired MPS's intra-logistics systems for food industries and industrial wastewater treatment systems. MPS has headquarters in the Netherlands, with production sites in the Netherlands and China.[12]
In July 2017, Marel acquired Brazilian company Sulmaq to expand its operations in Central and South America. Sulmaq was based in the state of Rio Grande do Sul in southern Brazil and employed approximately 400 people. Sulmaq's processing operations included hog and cattle slaughtering, cutting and deboning, viscera processing and logistics.[13]
On August 14, 2018, Marel finalized the acquisition of German-based manufacturer of processing equipment MAJA. As a result, Marel acquired a diverse product line-up and a global distribution network.[14] In October 2019, Marel acquired Australian company Cedar Creek Company, a company specializing in software and hardware equipment for meat processing.[15] In November 2019, Marel finalized a 40% share in Icelandic company Curio ehf, a manufacturer of advanced equipment for whitefish processing.[16]
On June 7, 2019, Marel had its initial public offering on the Euronext Amsterdam stock exchange (ticker symbol: MAREL). Amsterdam was chosen for the second listing of Marel shares as the company already had a strong presence in the Netherlands, where 1/3 of its employees are based.[17]
On December 11, 2023, Árni Sigurðsson was appointed CEO of Marel hf.[18]
In January 2025, it was announced that JBT Corporation had completed its acquisition of Marel. As a result, the Chicago-based company was renamed JBT Marel Corporation, as well as being listed on the New York Stock Exchange and Nasdaq Iceland.[19]
