In partnership with our customers, we are transforming the way food is processed. Our vision is of a world where food is produced sustainably and affordably.
An ambitious 10 year growth strategy was laid out for Marel in 2006. The goals included achieving €1bn in revenue as well as a 15% market share through strategic acquisitions and organic growth. Marel’s past ten years have been characterized by a continuous and steady growth with the annual compound growth rate in 2005-2016 being 20%, of which organic growth was around 7%. The growth can be attributed to new market entrances, successful innovations and strategic acquisitions along with a sharp operational focus.
Over the past ten years Marel has actively participated in the ongoing consolidation of the food processing equipment market. Marel acquired AEW Delford and Scanvægt in 2006 to complete its product offering in secondary processing solutions. The acquisition of Stork Food Systems in 2008 paved the way for full line poultry processing solutions and the acquisition of MPS in 2016 closed the value chain gaps in primary meat processing, making Marel a full line supplier to the poultry, meat and fish industries.
The result of the 10 year growth strategy introduced in 2006 has put Marel in a position to build on its solid financial foundations and continue to enjoy sustainable growth. To further cement its position as one of the market leaders in its field, Marel is emphasizing the streamlining of internal processes in order to reach its full potential. An integral part of this will be to get all of the company’s business units on the same IT platforms, a project that will strengthen Marel’s position significantly as a global market provider. With full-line solutions, the company will also continue to invest further in the already best-in-class sales and service network to reach global markets where growth can be expected through the best possible means.
Today, Marel is a full line equipment provider to the global poultry, meat and fish processing industries. The full-line approach combined with extensive process know-how solidifies Marel’s position as the preferred supplier for many of the world’s largest food processing companies. Marel will continue to assess and fill the relevant application gaps in the coming years in order to strengthen its position across the value chain. In addition, it will focus on growth through innovative solutions and acquisitions with a good strategic fit.
Marel will continue to have a strong product offering in the advanced and high-end equipment markets as well as strong aftersales services. It will therefore be ready to fulfill one of its most important tasks; to support its customers when they enter new markets and face new challenges.
* Operating income adjusted for amortization of acquisition-related intangible assets (PPA).
** Adjusted for refocusing cost related to the refocusing program Simpler, Smarter, Faster, and acquisition costs .