Acquisition of existing shares and injection of new equity.
In a press release on Friday, Marel writes that it has acquired a 40 per-cent stake in Stranda Prolog, a Norwegian provider of salmon processing solutions, and the launch of a strategic partnership between the two companies.
Founded in 1946 as a family company, Stranda Prolog is a provider of salmon processing equipment, including helix tanks, fish pumps and stunners.
Marel said that the transaction was part of its strategic objective to “be a full-line supplier of advanced food processing solutions, software and services to the fish, meat and poultry industries”.
Stranda Prolog’s complementary product portfolio for primary salmon processing and aquaculture solutions will bring Marel closer to becoming “a full-line provider to the global salmon industry”.
The transaction is a combination of two parts; the acquisition of existing shares and injection of new equity to “support future growth opportunities through the development and launch of new innovative solutions”.
“With their combined product portfolio, the two companies will be in a stronger position to extend their customer reach through Marel’s 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,” wrote Marel.
Marel Fish executive vice president Gudbjorg Heida Gudmundsdóttir said that the two companies will be in a stronger position to “transform the salmon processing industry”.
“Stranda Prolog’s superior knowledge of raw material handling and quality processing solutions is mirrored in their strong presence in the market. In recent years, Marel and Stranda Prolog have achieved great results collaborating on innovative full-line projects with some of the industry ́s most forward-thinking fish processors.
“By partnering up formally, we are in a stronger position to continue to transform the salmon processing industry, creating a more seamless flow, securing valuable data, and providing safe high-quality products to consumers worldwide,” said Gudmundsdóttir.
CEO Stranda Prolog Klaus Hoseth said the deal was a “great honor”.
“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 recognized 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,” concluded Hoseth.