JBT to acquire Marel for €3.4bn.

JBT, a technology solutions provider to the food & beverage industry, agreed to acquire Marel, a multi-national food processing company, for €3.4bn. “The execution of this transaction agreement represents a significant milestone in the process to combine JBT and Marel, creating a stronger business that will benefit shareholders, customers, and other stakeholders. The approval of the transaction agreement by the Board of Directors of both companies is the result of highly collaborative work between the JBT and Marel teams. We both completed confirmatory due diligence, which reaffirmed the compelling industrial logic of the combination and the value creation for shareholders. This process has reinforced our confidence in the potential revenue synergies and further value creation opportunity,” Brian Deck, JBT President and CEO. On August 8, 2024, JBT shareholders voted to approve the issuance of shares of JBT common stock in connection with JBT’s pending combination with Marel.