Processor Marel buys stake in Stranda

Marel, the Iceland based fish and food processing supplier, has acquired a 40% stake in Stranda Prolog, the Norwegian supplier of salmon processing solutions. Marel, which already has a growing international reach, said the transaction is in line with its strategic objective to be a full-line supplier of advanced food processing solutions, software and solutions to the fish, meat and poultry sectors. The move also brings Marel closer to becoming a full-line provider to the global salmon industry. The two companies already have long-standing relationships with many of the world’s largest salmon processors and have successfully collaborated over the years to deliver full-line projects, “…with Marel’s overarching Innova software enabling a seamless flow across all processing stages”. Marel added: “With their combined product portfolio, the two companies will be in a stronger position to extend their customer reach through our 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 in two parts - the acquisition of existing shares and the 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, said: “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.” Klaus Hoseth, CEO of Stranda Prolog, added: “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 recognised 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.”